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.

A standalone ADU is almost always going to cost more than doing an addition, so the value added or cash flow increases will have to justify each.I work with a team of investors who will buy SFR homes then build a new ADU on the lot and add a separate drive way and meters for utilities in North Texas. 

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

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

Hopefully you’ve increased rents and your above expectations. 

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

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. 

With a triplex, the cost for the same slab increases only slightly, to $28,000, but you get three units instead of one.

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).

I have a feeling the snowball of moment is increasing, and you will have that 4 plex in no time at all!