Quote from @Devin James:
Hey Monique Samuel,
I would ask, what are your end goals and which option would get you there the most efficient way?
Some thoughts:
- An ADU would add significant value to your property, but an RV wouldn't.
- The RV will depreciate over time, unlike an ADU.
- I assume that there would be more repairs/headaches associated with the RV.
- Smaller tenant pool.
Good Luck!
Well, I was looking for something cost effective (to set up) at this time and one I can get a STR/MTR business started sooner. With the permits and inspections by the city to get the ADU completed, I assume it will take 3-4 months. With an RV, maybe 1 month. Besides 2-3 years from now, I plan to LTR the main house. If an ADU is on site, I will have to tightly lock up the ADU and closely monitor so the tenants do not sublet it. However with a RV, I can just get rid of it.
As for the depreciation on the RV, that I don't care about because my thought was to buy an old RV and fix it up.
