Not a lot of municipalities allow that sort of structure as living space in our area.

I am passionate about mobile home parks and am quite familiar with the MHP investment space, so feel free to PM me and I will do my best to offer perspective and point you in the right direction.  

I would also encourage you to look into the house hack space. 

Participants in the commercial real estate space could do themselves a lot of favors by forgetting entirely the concept of purchase cap rate.Cap rate has only one useful purpose--and that is to estimate the price in which the property may sell for at a later date. 

Are you building for pure investment purposes or are you looking to use some of the space for personal/personal business use?

The city is in a desert so they have lots of space to build on, and the current problem is oversupply.

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

Are there any specific clauses I should include in a room-by-room lease for a shared living space?

because we have a strong demand for them and great str laws.The Triangle is visited year-round by travelling professionals in the research, medical, IT, and education space.

That will allow you to build the additional legal space further amplifying the value of the proprety (more HELOC money).