Location, view, water, trees, electric, water.Will clear building spots and plant 100 fruit trees and 800 hardwood seedlings.  

Your journey into short-term rentals sounds like an exciting shift—I can feel your energy for taking on a new challenge. 

You can't lock them out of their room, turn off the electric, or anything like that.  

This added so much to the overall cost and took up more of my time than I expected.Overall, it was a huge waste of time, money, and energy.

And as investors we should know this, but always anticipate higher costs and longer waits.EXAMPLE Breakdown of Costs:Plan Purchase: $1,500Permitting Fees: $2,500-7,500Site Preparation (grading, utilities, foundation): $20,000–$30,000ADUs require separate utility connections for water, electricity, and sewer but you can tap into existing utilities at the primary houseIn Raleigh you CANNOT split lots fee simple, so setting up completely separate utilities would not allow you to section off the ADU as of nowYour ADU must be on a permanent foundation (no wheels, no ability to move the structure)Construction (labor and materials): $100,000–$150,000Low-grade: $150–$180/sq ft averageMid-grade: $180–$220/sq ft averageHigh-end: $220–$250/sq ft averageLandscaping/Finishing Touches: $5,000Total Estimated Cost: $125,000–$200,000You could easily spend $200k+ with super end high finishes, custom designs, complicated sitework, adding a second story or more sqft, etc.

I then hired contractors for plumbing, electrical, roofing, and HVAC upgrades.

If you have the electrical capacity and the drain I would spend the $1600-$1,800 to buy the MUCH nicer ventless GE or LG all in one units.

I then hired contractors for plumbing, electrical, roofing, and HVAC upgrades.

@Ben LeybovichI think in the perfect world, new investors would spend enough time and energy learning how to analyze properties themselves, what the various calculations mean, etc.

Once the interior was stripped and the infrastructure tested, I brought in commercial contractors to handle critical systems like plumbing, electrical, roofing, and HVAC installation.The house, built in the early 1900s, was originally a coal-burning residence.