(I want to come back to this)Because of that, the planning commission then suggested that I consolidate the 50X50 parcel into my existing property to the north, and then build on the 50X50 lot under the Accessory Dwelling Unit standards.

The SFH seems to be the most coveted possession now.

Like properties in the same neighborhood comp around 95k, but none have the coveted lake view that this one has.Asking the seller to carry the note on the remaining 25k is a great idea.

The other is aimed more at someone wanting to rent a portion of their home (while living there).https://duluthmn.gov/media/5587/accessory-home-share-regulations.pdfhttps://duluthmn.gov/media/8250/interim-use-permits-for-vacation-dwellings-july-2019.pdf

Did you ever get into setting it up How is it going for you HI @jasenYeah its a great way to get good rents with good tenants and not the hassle of airbnb etc.Our goal is to target nurses, close to hospitals and deck the units out with all sorts of accessories that nurses would want.

It was setup by my estate planning attorney and it provides rock solid protection of the assets while preserving ALL of the tax advantages.I know the gurus make LLCs look sexy and tout them as the must have accessory of all hip real estate investors, but they don't really provide the kind of protection the gurus claim.I urge you to seek competent counsel.

*******July 2021 Primary residence purchased in CA(The residence has 2 homes: a main home which we live in AND an ADU/ Accessory dwelling unit)*July- Oct 2021: we rent out the ADU for 90 days straight to one family (so it is not an STR and ADU is not eligible for bonus depreciation as I understand it)*Oct 2021: our family member moves into the ADU now that our renters have gone; and we continue to live in the main house.  

I live in Murray and they now allow legal ADU (Accessory Dwelling Unit) aka basement apartments.  

Ergo, Podio.Now here I am today, right now, finding ways to automate and outsource etc...and I stumble across the all too well known and coveted PODIO.

What you are wanting to build is an Accessory Dwelling Unit or Junior Dwelling Unit, which hopefully your zoning will allow.