It will be the only ranch-style triplex in the area that I know of.

Will this improve your quality of life?

Someone that can come in with high % equity (maybe 1031) it would be great long term and short term cash flow with a lower loan amount.I’m in the realm where I can afford it not a big enough dent where my life is being changed at all really.

I am curious about how that is actually handled by other tax pros in real life scenarios. 

FHA loans taken out after 2013 with only 5% down cannot drop MIP for the life of the loan.

Once you learn more about all these different ways then choose the best one that you believe will be the best fit for you that fits your lifestyle and will help you accomplish your goals.

If a person is 20 years old, and their life expectancy is another 60 years, then that $600/year adds up to a whopping $36,000,...total. 

However, the lower payments give you flexibility in case a major life event stresses your finances and/or monthly cashflow. 

My approach is one of careful research, strategic planning, and a willingness to adapt as I grow in this exciting new chapter of my life.

I’d recommend reaching out to a local architect or design-build firm who has experience with both home additions and ADU construction to help bring your vision to life.