Hi Jasmine-Congratulations on being ready to turn your primary residence into a rental.Your question is should you use a property manager or self-manage your property.If there is enough positive cashflow or you can afford to pay a property manager, I always recommend doing so for the following reasons:1.

There is now some positive cash flow (not much considering the value of the asset, but a lot considering where the initial cash flow was).  

But, I like to make relationships with software that take feedback and execute to fix quickly. 

Does anyone have experience of setting up a STR while in the same position? 

For someone in your position, starting small but strategic might be the best move.

They know what buyers like because they’re in showings all the time and hear that feedback first-hand.

The cost to build will be significantly more than the amount of “value add” of an ADU putting you in a negative equity position.

As a reminder, listing tenure positively impacts your performance on our marketplace.

I'd personally never take capital that I am paid to manage without committing my full-time effort to the situation and putting a majority (I reserve the right in the future to make this 1/3rd of my position) of my wealth into the situation. 

By the way - for the same reason the 1st position lien holder will be uneasy with 100% CLTV, as a buyer I would be uneasy with it as well.