Labor/material are going to be different and need to factor that in4) new roof, new HVAC, new water heater, ac panel, replacing plumbing to PVCThese are very variable, if you are getting this from a licensed guy to do it and unlicensed.. is it a big shop or a local shop doing it, is the GC doing it they will put some money on the top so it will be more money5) framing (creating new bedrooms or baths)I would get all these quoted from a good couple of licensed guys and unlicensed to know your numbers to cents

With that being said, I probably only deny a couple of requests per year and the vast majority of guests are great!

I have one personally and I have found its better to rent the whole property vs. splitting it off and having a separate tenant with a separate lease.

Is there one furnace for both units or separate ones? 

We moved a couple of people in by the room and had our bills, mortgage paid for and even our grocery bill.

Before you decide to pull the trigger with any Bank/Lender make sure the they are well versed in DSCR guide lines and close more than a couple a month. 

If possible as others have said, go to a couple of meet-ups in the area you want to invest in.

Furnished Finder does make it tricky since you need separate profiles for each room, but platforms like Apartments.com or Airbnb might work better if you're aiming for full-house rentals or structured by-the-room arrangements.If you decide to rent to multiple individuals:Tenant Screening: Screen each tenant thoroughly to ensure they’re reliable and responsible.Clear Communication: Introduce potential tenants to one another Detailed Agreements: Use separate leases for each tenant and specify shared vs. private spaces, utilities, and maintenance responsibilities.House Rules: Create clear, written house rules to prevent misunderstandings.Inventory Tracking: Document everything in the home (furniture, appliances, etc.) to avoid disputes about damage or missing items.Also, market your property with its flexibility in mind—like proximity to hospitals for traveling nurses or universities for graduate students.

I had a similar off-season challenge and decided to allow pets ( with restrictions and clear house rules) and I gave a 30% discount to try & attract  snowbirds ( I’m in FL) - my calendar filled up for a few  months with a few pet owner bookings and  2 separate 45 night bookings,  did all this on pricelabs & airbnb -best of luck ! 

With permit, benefits are 1) get depreciation and other tax write off benefits since it’s a permitted investment purpose ADU, 2) probably better for resell value, 3) have a separate address and don’t have to bother sorting out mails for our legal tenant, etc. without permit; benefits are 1) no hassle to get the permit, 2) no permit fees, 3) no tax on rental income (as it is more like a “roommate”)Has anyone gone through a similar situation before?