My considerations have been: adding a small laundry area, building out the bathroom for a larger shower, making a separate parking area, building a walkway, putting up a fence so they have some privacy/yard space, mini split on the AC...

My idea is to build a mini village with modern cabins, but I'm unsure about its demand, worthiness as an investment, and associated risks.Here are some specifics:Investment Capital: I have $500K of my own and access to an additional $1 million from investors.Location: New Jersey, where I currently reside.Investment Goals: My primary goal is to generate cash flow through short term rental.Project Idea: I'm considering building a mini village with modern cabins.I would greatly appreciate insights from experienced professionals in the community on the following:Demand: Do you think a mini village with modern cabins would be in demand in the New Jersey area?

Drive over and take a mini vacation, look at some houses....

Then, if you click on an actual parcel, you'll get a mini-report with additional zoning detail (if applicable). 

New sewer, electrical, electrical panel, mini split, tankless water heater, plumbing, flooring, kitchen, bathrooms, turf, driveway, hardscape, etc.

I am thinking to convert this home into multiple rooms which has its own bathroom and mini kitchen if it is feasible.I appreciate it in advance!

So what do you think after reading that mini novel ?

if you want Zero risk then park in your brokerage account and buy USFR, a wisdom tree ETF, pays 5.39% interest, holds 8 week UT treasury floating rate notes only, so you don't need to worry about FDIC or SPIC insurance as only way US govt doesn't pay is if we get nuked, then you won't much care about Yieldif you ok with mild risk, I put my emergency funds cash into a group of different BDCs i like, these are business development companies (mini-banks) that make loans to small to medium size companies.

A contractor can help yes when it comes to looking at it and telling you how much or what you be looking at if you want to upgrade or fix something visible but you need the inspector to check out the roof AC and plumbing thoroughly despite what it looks like in person I’ve seen mini jacked up ceilings.

Look the guy above you runs a mini fridge over to their house and they still demand more. it doesn't matter what you do eventually you have to enforce a late fee or tell them "no" about something and you're the evil landlord.