The other quesiton i have is if private equity is starting to get involved in this market, companies like Apollo & Carlyle, does that change your feelings about getting involved in the space?

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

I see no value in it for evaluation.Realestate.com has always been a good site for accessing properties, but they do a poor job of evaluation. 

We have more money to put down, and will need to put more down because we wont be house hacking (we have 5 children so space could be a problem if we tried that).

If you’re looking for multifamily deals in NC, try connecting with local commercial brokers who specialize in multifamily properties—they often have access to off-market deals.

Unless there's access restrictions and access is required for an appraisal or lender inspection, there's no reason why a buyer can't use financing even if the property is advertised as cash only.

I'm looking to get involved in this space, too. 

While the traditional approach involves buying a multi family property, living in one unit and renting out the other - with rising prices and interest rates; others have considered renting out bedrooms as unit spaces. 

What I’m discovering is that just because a town allows STRs doesn’t mean the local laws make them operationally feasible unless you meet very specific criteria.For example, in Highland Lakes, access to the lake requires private membership, and it’s unclear if STR guests can use it.

Quote from @Jacob Hrip: I have read this one years ago and it is a great book by a very successful guy in the space!