You could either form a Joint Venture (JV) agreement between you two individually or between your two LLCs. 

ADUs can provide additional rental income, which can help offset mortgage payments or other expenses.Extend your homeowner's insurance to cover the ADU.Be prepared for potential increases in property taxes due to the added living space.Given that your property is not in a dense urban area, make sure to check specific local regulations as they may differ from city regulations.

If you need to ‘snap  increase”  then by a large margin… give your tenants extra notice and just advise them that due to significant increases in expenses we must make some pretty major increases to our rents , but I’m giving you ample notice to either prepare for this change or to plan to find a new living situation.  

Lastly, if you represent yourself, be prepared to block out several days for court appearances, no matter if the tenant shows up or not. 

Both of them can help guide you through the process because either way you will likely need to prepare architectural plans to get submitted to the city.When you are ready for the renovation, let us know and we can surely be a resource for you in that department.

I thought how ironic the neighborhood is called Hunt (at least I think it is--maybe I had ventured into another area on Google drive), And my thoughts about how it looked was it looked like some place you could go pheasant hunting due to the lack of buildings , and the amount of open ground . 

We are general contractors who rehab, build ground up, and do joint ventures with investors.

If you can give us a little clarity into your background, goals, and location experience then we can help give you a better idea of what to prepare for. 

That is not to say you shouldn't try, just be prepared with realistic expenctaions.

Best of luck in your new venture!