Would recommend you read a couple books about BRRRR, that will give you the basics and then feel free to reach out.It remains a great strategy, but you have to manage your expectaions.

FHA allows the construction or renovation of an ADU on the property by refinancing into a 203k loan, but the property must remain your primary residence.This stuff is subject to change, lender specific, and subject to other factors.

I was considering reading J Scott’s “The Book On Estimating Rehab Costs” but wasn’t sure if the information remains relevant 6 years later given how pricing has changed since then. 

The remaining “residual” cost is then assigned to the building itself.

I am confident that I will be able to refinance the remaining seller note principle with private money to allow me to hold off on putting more money in the deal.

Quote from @Juan Ruben Cortez: I believe the funding fee is 0.5% of the remaining loan balance, plus maybe another $500 - $1,000 in lender fees. 

Thus, my taxes should be higher because of the income I generate.If I pay off the primary, I'll increase the amount I'm able to save monthly not having the mortgage, while also keeping the income generation lower on the rental because the mortgage remains open.Any thoughts would be appreciated! 

Regardless, the market has slowed, but prices remain relatively stable. 

I purchased a property 5-6 years ago and then 2-3 years ago took out a HELOC to payoff the remaining mortgage and am now paying off the HELOC (I actually had it paid off last year but then used the HELOC to purchase another property and am now paying it back down).

The shaded regions represent periods of QE (QE1, QE2, and QE3), during which interest rates generally declined or remained low.