I just got something small and well within my means - refinanced when rates got low and now it's a decent little cash flowing rental 

No matter where you are in experience, I would love to help point you in the right direction as well as offer insight into can!

For instance, properties with an accessory dwelling unit (ADU) on the lot that can be implemented as a long-term or short-term rental can perform exceptionally well.

Is this the only market you are looking at to invest in or are you open to out of state investing as well?

I have checked with Wells Fargo where we bank they say they do not provide investment property loans.Thanks in advance.

Every loan and bank will have its associated fees and cost as its the price to do business but if you see more leverage in tapping into existing equity that could very well be the case.

I think they can go very well if done right or poorly if not, and right.Here or a couple of suggestions. 

If you had also spend money on renovations and improvements while occupying those should have gone into service then as well. 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

@Shafi Noss Improving the land would be the simplest since there's already a driveway, electricity, and an old water well that needs to be jetted again.