Please review previous threads on BP under subject to.  

I've got perfect feedback and great guest reviews on my STR but I'm better at running LTR.

Perform due diligence by reviewing the financials, market trends, and property condition.

In regards to your review, I dug into particulars and of course, there are three sides to every story.

@Jay StraderI'm wondering the same thing - I had an attorney review the contract & basically all it said was invest at your own risk.

Additionally, in the past six months, I’ve reviewed about 45 multifamily properties (ranging from 10 to 80 units) for my real estate private equity firm.

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The only other question I would suggest is that you do engage a property management company to review your quad and review your monthly financials.

Set one up locally, review insurance policies, and call it a day. 

I recently completed one on a multifamily property and found it to be a cost-effective approach.That said, there are a couple of additional factors to consider beyond the code differences between a garage conversion and new construction:Coastal Overlay Zones – If your property is in a coastal overlay, building a ground-up ADU may require Coastal Commission review, which can add time and complexity to the process.