Mostly people with minimal RE experience are adding a single ADU and they often make that choice based on cash flow without taking into account the negative equity position.  

Net migration is negative for a reason.

@Michael Ewersi can only speak for what i've done as i suspect it varies by market. 

I have sold a couple of businesses as well, and speaking from experience, you are never more vulnerable to make a mistake than when you are sitting on a giant pile of cash.Also, I agree with @Corey Conklin - I'm a big fan of "overflow cities/towns" in the sun belt.

But everyone's skills are different.So I can't 100% speak for you, but I can speak for myself.

- Most real estate investing projects have negative cashflow for the first few months - if not the first few years.Keep listening to the podcasts, but pay attention to WHEN THEY WERE RECORDED!

Which of course is actually a negative for participating in speculative madness. 

In my opinion, you are going to find positives and negatives in EVERY MARKET and you will also find investors crushing it and getting crushed in every market.  

I'm a little biased but I think having an accountant that specializes in real estate and speak your language can always be helpful.

Speak with the director of development (they're not always titled that way, so just ask for whoever deals with area developments, new construction, rezoning, etc.) to ask if they'd be supportive of your plan.