The only real offer I got through FF was for $1700 a month, and I'd rather leave it empty than take that and pay for the heating bills and the extra wear and tear of long term renters.

(Give that to sellers, they picket $100k after paying off the loan.) and then pay them 4.5% interest (what they could get from the bank.) now you’re talking $750/yr extra interest, and it’s being paid to family. 

There was also extra bracing to keep the roof from moving further apart.  

That is assuming your DTI can cover the increased mortgage payment.If you have use for that extra $100k that you would get back right now then don’t wait.

Do an assessment of value now and after you get the ADU permitted * We have been in situations where $8k for permits could mean an extra $100k in value or $2k per month in rents. 

Maybe they want bigger lot, more land, extra lots. 

So, the landlord makes an extra $1000 per month with the same fixed costs.  

As you know bedrooms are worth more to appraisers than an extra living room.

Other asset classes aren't so the depreciation schedule may not be as quick/beneficial.2) And it is even possible to find deals that are what I call "super-shielders" and which not only shield all the distributions in the investment but have extra to use over on other real estate investments that are throwing off income. 3) Unless you're doing a 1031 exchange  at the end or similar tax structure to defer taxes, you will have to *pay back* all that depreciation benefit at the end (on sale...which for you is in 5 years)  via depreciation recapture.

They are generous on the values so sometime my actual cash out of pocket is less than 15%, for example, I pay 102K for a house that appraises for 108K, the extra 6K they count towards my down payment so I get a mortgage for 91,800 because that's 85% of 108K and I write a check for about 10K.