Looking forward to your insightsThere are probably many ways to go from $12 million annually to $60 million annually.  

Welcome to the community, Randy! 

So let’s assume with realistic expense estimates over 1st 5 years you average $250 in today equivalent dollars (it will be a challenge at that starting point).The ADUs are typically receiving valuations below $100k, but let’s be generous to show the scope of the people and say it adds $150k of value. 

We have a pretty good Tenant who is moving from one apartment unit to another.

While I am not afraid to invest my own time and money to renovate a property. 

I believe it started at $700/mo in the good old days of the recession and is now up to $1000 (undervalue about $150 for that area).

how is rental market in that area these days? 

I'd underwrite the property, with that low interest rate assumable mortgage, to cash flow positively from day 1 as a long-term rental, but be willing and able to use the rent by the room strategy or to rent out part of the property as a Short Term Rental to dramatically increase cash flow during my occupancy. 

You should reach out to @Sara Frank.

Like you guys, our team has little time to waste!