An ADU is a secondary dwelling unit located on the same lot as a primary residence.

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Lots of factors in every location. 

It's worth mentioning the STR regulations are relatively new, and I think some properties currently operating are basically grand-fathered with the old permit, and I don't know if being a new owner one'd be able to get a new permit if it's not in the designated location.

It's a low barrier to entry and a good option for you, I would highly and I mean highly recommend you focus on location.

This is a common theme across the country with many municipalities enacting similar restrictions including where I am located in Philadelphia. 

I spend far less time on BP than prior...the value just isn't there for me. 

I'll include all details below.THE LOCATION: The hotel is conveniently located in the breathtaking Smoky Mountains, just minutes away from the Great Smoky Mountain NP entrance.

I had no prior experience in commercial real estate at all. 

This property had significant potential for value enhancement due to its location and condition.