If you are NOT running a trade or business - 1099s are not required.The main reason why you WANT to be "running a rental trade or business" is your eligibility to claim business overhead deductions, such as marketing, education, technology, and so on.

The owner is living in the ADU and renting out both levels of the main house on AirBnb.

I’m still learning about the process but a Construction-to-Permanent looks attractive if owner-occupied terms could apply.

IDEALLY, we would like to find a property that has or is capable of being converted into a “mother in law”, “ADU”, “Casita”, or any other separate living quarters in which we could rent out the main portion to a tenant (short term or long term) and then use the separate space as our own for when we come and go with business.

Your tenant's friend will probably just draw it from whatever nearby circuit thay can tap into most easily.....So running a new 14/2 cable from the main panel will probably not be easy unless it is really close.

Your current pictures are dark, it looks like the photographer is standing in the middle of the room taking a picture of the corner, and the angles are not attractive.

.: So there was a thread that was started a number of days back that is actually gaining quite a bit of attraction.

What attracts you to it, just the price?

The power of leverage is one of the main benefits that distinguishes RE from other investment choices, and the refi is where real wealth is made.

The main thing is to find motivated sellers before they list their homes with a Realtor.