During this time you are not generating any return from the money invested in the ADU.

In a text book case you'd buy a property for half of its ARV (after repair value) and then spend 25% of ARV on rehab and generate 25% equity.

So I would buy the home and rent it for a couple of days, and then show the payment receive if you end up not being ready to launch and generate other bookings before the application window opens and closes.I'll direct message you my phone number.

@Jason Malabute Yep - I'm currently invested with BAM in Fund #1 and Fund #3 (no money in the war-chest when #2 came around)Distributions have been consistent and reliable and Fund #1 has already generated a 2x equity multiple.

I use the 3x rent for my first barometer, steady employment, good credit, and of course 3 years of rental history.

Then I sit down with a spreadsheet and analyze all parcels for an area and generate a list of target properties right from my computer.  

Here are some quick stats to consider:Tangible Asset: Real estate is a physical asset you can see and touch, which can provide peace of mind.Cash Flow: About 33% of homeowners rent out their properties, generating consistent income through rent.Appreciation: Real estate appreciates by about 3-5% per year, while the stock market averages around 10% but with more volatility.Tax Benefits: Investors enjoy deductions on mortgage interest, property taxes, and depreciation.Control: You can actively manage and improve your property to increase its value.Just take it step by step, and you might find real estate is less risky than it seems.

I'd have them sign my own lease on renewal and I'd make sure I had enough information on them so I can go after them if a legal issue arises such as employer and other similar data. 

Also I would loose a huge tax right off and being self employed I need all the write offs.

I definitely want to have that long-term mindset and buy a property/house hack that focuses on appreciation, but can also generate some positive cash-flow after I move out.