I will mention that a hot tub could really increase the frequency of bookings. 

Your equity won't likely increase beyond the cost to build because there aren't a ton of ADU comps on the market yet. 

I guess my challenge right now is to define the strategy and balance all the factors, such as job and population growth (value increase), cashflow (demand & supply market, interest rate, property tax, maintenance cost), and risk control (insurance etc). 

The property was leased for $2,150 per month.Refinance and Return on InvestmentAfter a stabilization period of 6 months, the property was refinanced to leverage the increased value created through renovations.

(covid, historic rate increases, etc.)

Managing rentals isn’t for everyone, especially after dealing with bad tenants, challenging property managers, and increasing costs.

But starting with single-family can be a great way to gain experience and confidence before tackling larger deals.If you were someone I knew personally, I would probably suggest multifamily, but it's not for everyone.

You're on the right path—stay cautious and confident!

This has become challenging due to an increased interest in the historic district in Dubuque due to revitalization plans that include 18 million dollar investment into the historic downtown area. 

First, increase staff size.