Compare that to national competitors Vacasa or Evolve for example. 

It's worth a conversation.IF you determine that selling is the way to go, $1M could buy you a comparable property in Scottsdale, depending on where in Scottsdale you'd like to be, and how much land you want on your lot. 

Compare that to the performance of a new property (with that equity unlocked but also with a different interest rate as @Katie Ripp said).

Financial Projections: Compare the projected monthly cash flow from renting (especially with an ADU) to the net profit from selling after costs.

I know you are dealing with a 3 month lease rather than a 12 month lease, but for example....Say I rent my home for $2,500 per month and have to lower my rate by $100 to find a quality tenant that is a loss of $1,200 over 12 months compared to a loss of $2,500 for each month it remains empty. 

This has been well worth it compared to the 40+ hours I was previously spending doing this myself come tax prep time.

It’s worth calculating the total investment (purchase price + wiring replacement) and comparing it to what the property could yield after the upgrade.

I find that depending on the market $300-500/mo are fairly normal and if compared to what you would pay with a single family home on some utilities, maintenance, and management, it's a good deal.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I really like LLCs compared to corporations because of the free stepped up basis for passing property to my children.