While I agree the rent by the room strategy can be great if you know how to manage it well, from a lending perspective, a lot of 30 year DSCR note buyers won't allow properties with individual room leases, so it could make refinancing more challenging. 

Thank you all for your responses! 

Please have a look.Based on my extensive research:Success Rate: 70-80% for experienced investors; 50-60% for novices.Failure Rate: 20-30% overall, with 10-15% resulting in outright losses.I'm looking forward to your response and the response of any BP members who would like to weigh in.Quote from @Mark Cruse: Never used software.

Looking to connect with like-minded individuals on this platform, or those who have gone before me and can share their Dos and Don'ts from their own experience.

It is really helpful, that you are so responsive and share your thoughts. 

Cheers,André.Thank you for your response.

:Based on the responses you probably can see that ADU additions on single family homes are still the wild west right now, so you need to be clear on the numbers and goals in your specific market.

if you allow the use of it I would mention something in your contract that the tenant is responsible to manage a controlled safe fire or something along those lines.  

Most reverse exchanges are done with cash from the client or a private loan of some sort from an individual or a portfolio bank.When your old property sells you will have that cash in your account to purchase the new property. 

The goal is to expand my network with likeminded individuals in the same market.