The rental increases and equity growth makes our  market very forgiving.

We would now like to increase our access to cash via a HELOC that incorporates the new ADU in the appraisal. 

I’ve personally house hacked in the Irving park neighborhood in Chicago with a multifamily so not completely relatable experience to what you’re looking to do but hopefully can provide a few insights.If you go with the suburbs in a SFH, you could rent by the room and presumably increase cash flow.

If so, do I need to wait a full year to apply the CapEx rent increase?

Here is the pro forma financials for the property……………they assume 150% occupancy and a 150% rent increase 9.

I use the Bureau of Statistics to find figures for job growth and population increase.

Do you feel, given the current state of the market, the risk is increasing in this type of investing?

However if you are looking for options without points then you would either want to consider taking a higher rate or increasing the term of the prepayment penalty. 

Hopefully you’ve increased rents and your above expectations. 

I would discuss financials on this if you choose to come see the pre-rehab on Dec 1 (I have made a lot of money (close to 7 digits after this rehab is done in ~2 months) but due to not executing a cash out refi (due to the rate increases) my return is below my underwriting).