HOWEVER, there are two completely separate apartment buildings on the lot. 

Here in the USA you have to be licensed to build a structure that will house someone else.

The reality is, while house hacking can be a fantastic way to build wealth, it’s not always as simple as it seems.

I don’t believe you can do a 1031 into building an ADU on land you already own, even if it wasn’t your primary.Reach out to @Dave Foster if anyone knows he would.

Seeing your intro is a breath of fresh air.. what's your next step in building a strong investment network?

i found in my build projects that started just before and continued through the pandemic prices rose. everything but lumber became sticky IE they rose but did not fall..

HelloOver saturated STR in Ohio markets have caused many STR to drastically lower costs to as low as  $100 for entire bedroom home.My are higher and I'm not competitive with the lower cost Abnbs.I also feel hotel industry are mass building new hotels to compete with str. 

That has become nearly an industry standard in the lending space. 

Building a trusted team is key, so starting that process as you actively search for your market will put you in a strong position moving forward.

If this is your first property, you could consider starting with a smaller apartment building and going after the opportunity first, and the property as a secondary consideration.