I have a small network and seems like we can find deals where the purchases will be in a good location, will be priced below market and will have instant equity.

The land will cost $50K and to build will cost me $225K, all houses in subdivision are going for $468K and up, so I will have instant equity.

It's likely that the agent who owns this property can prove with a zoning certificate that it has 3 legal dwelling units, though it would ultimately be up to the buyer's due diligence to prove such. 

The bills (including groceries) will all be paid instantly when my check is direct deposited, my savings will be automatically withdrawn from my paychecks so I never even see it, and what's left over is mine allocate as I see fit.

@Christopher LeetI won’t ever buy anything that doesn’t have instant equity or appreciation.

@Laura Blair - for the rocket lawyer contract template, searching for the term "ADU" or "accessory dwelling unit" doesn't seem to yield results.

Question is, is it worth the time/money to buy a single family home with a detached garage to turn into a ADU(additional dwelling unit) creating a 2 unit property.

Look at everything that has sold, look at stuff on the market, start making your own comparisons, basically you want to know almost instantly if its a good deal or not (Of course the inspection will give you a better understanding) But from the outside, for the offer, you need to act quick, especially in this market for small multifamily.

Sherin,An umbrella policy provides a limit of liability above your homeowners, personal auto, dwelling/fire (aka Landlord policy), boat, motorcycle, ATV...The umbrella policy responds when the limit of the underlying policy such as the Homeowners is exhausted by a claim.

I think the hardest part of that would be finding a property with an ADU, but if you do I would reach out to the town/city hall on its rent-ability as a room or as an independent dwelling unit.