An accountant would also be a good idea, as there are many tax rules for the treatment of passive income and partnership income.The following is all intended to be read hypothetically and not as advice to you specifically:In a general legal sense (again, not specific to your situation) this is usually a slightly more complicated situation than it might seem.

Brought out 3 termite inspectors who informed me that they can do spot treatment, but that termites have most likely infested in the exterior walls and roof, possibly the basement as well, which will require fumigation.

I met a guy online that seems very ethical, so I reached out to him.I scheduled a skype meeting with him even though he's local to work around our schedules.

I'm not looking for any special treatment from him but if he knew we were interested he might dissuade us or possibly work with us to dispel my concerns. 

They have conservative leverage, put high skin the game, have been through multiple real estate cycles with no investor money lost and have very favorable tax treatment.

Make sure the lease spells out a hefty penalty like all new paint and carpet etc - in reality most of the time an Ozone treatment wil take care of it. 

Is this choice ethical and legal?

As a landlord, one rule that I don't break is being ethical.

@Mark DotyWanted to share with you a great way to tap into the equity built from your ADU.The problem today: most appraisers used by traditional lenders would give ADU square footage a second-class treatment than the main house (as some of your mentioned above) since there aren't that many comps and they're trying to be conservative.However, you can consider taking out a HELOC/doing cash-out refi through Figure.com (HELOC up to $250k, Cash-out refi up to $1M).

The worst problem is that it's just about impossible to buy shrewdly in a city you don't know well, and you're not going to get the best deals and treatment from people who don't know you and see you as a long term customer.