In southern CA, even garage conversion ADU additions are typically costing more than the value added.  

@Kwanza P.I've owned property in both countries for years.When it comes to Mexico, I've shared my experience by replying to hundreds of posts on the topic on the forum.

Additionally, I wanted to begin using properties to pull equity to go towards buying more.

If you have equity and decent credit, a conventional Fannie Mae HomeStyle (or the Freddie Mac version) would likely be the better option instead of an FHA 203k loan (which will require a 3rd party HUD consultant to oversee the deal in addition to having the contractor involved). 

Throw your experiences in comments below; I'd love to hear success stories and/or horror stories!

This can put a significant strain on your finances and cash flowThey also often require a large down payment themselves and may have a strict repayment schedule that can be difficult to meet, especially if there are unforeseen circumstances or delays in renting the property or generating income from itIn addition, relying on this type of loan may expose you to higher financial stress and the possibility of default if you are unable to meet your loan obligationsThe final decision depends on your overall financial situation, risk tolerance, and your ability to manage the associated costs and obligations

Both options have pros and cons, and the right choice depends on your lifestyle, experience, and long-term goals.

I chose to invest most of those gains into a trucking company due to the lack of patience at the time and my 10 year experience being a tractor trailer w-2 driver.

We are budgeting for no rental cashflow so see upside if we can STR and additional upside when rates eventually and hopefully drop down for a refi.  

Sounds like you’ve got a solid foundation with your GC and project management experience.