A hands-off garage conversion ADU is over $100, even doing much of the work yourself, it will be much more expensive than your estimate.Single ADU additions in single family zoned areas are typically one of the worse re investments. 

., there’s a strong chance you could legally convert to a two-family.

We're leaning toward Cleveland, gravitating to the Cleveland & Shaker Heights B neighborhoods, both for ourselves and for family/professional leaning tenants.

Due to prices, I started invested in RI in 2019 and now have 4 multi family properties.I would ask, why 20% down and not 3.5% (FHA) or 5% (Fannie Mae) if you up on occupying the home?

Quote from @Marlin Yoder: Investment Info:Single-family residence buy & hold investment.

Quote from @Mindy Nicol: Investment Info:Small multi-family (2-4 units) buy & hold investment in St Augustine.

My name and my daughter’s name(s) are also in title and the loan.I have really good equity in both properties (six figure) with great interest rates.At some point my daughters and their husbands will move out to upgrade to something bigger.I want to turn these properties into investment properties after my daughters move out:  thinking the best way is to convert in my name only.Also considering leveraging the equity in the properties to help buy new homes/townhomes for my daughters when they are ready as well.Wondering what the best strategies would be for me to expand property portfolio, minimize tax impact , create more passive income while continuing to help my family grow.I appreciate any advice! 

Does someone have experience buying a foreclosed property and keeping the existing person/family living there and converting to a tenant? 

It's a new suburb just starting out ,there are no large single family rentals ,it's mostly townhomes that are being rented out, which falls in 2500-2700$ .

The lesson here is never buy into a property that you cannot take your family to and continue to research the area if you are banking on the neighborhood to be improved.