We are new to landlording and are trying to maximize the potential of the large, mostly unused yard.

If the property is bleeding money every year from repairs, maintenance, or turn over you'll never get ahead.You can tap equity with a HELOC (challenging right now), cash-out refinance into a new loan (much higher rates), 1031 exchange, or sell (tax hit) but the numbers and property condition need to guide this decision.

I am new to real estate, and ready to learn!

I am an investor based in Fairfield County, CT and just rejoined BP after many years away.From 2005-2011, I got up to ~150 units in SF & MF both rehab & new construction, Class B & C, but (regrettably) sold all to focus on institutional real estate and private equity.Since selling off, I got an MS degree in real estate and participated in most asset classes institutionally ($10-250mm+) with a focus on SF & MF.

Does anyone have experience in this market (Norwich or New London county)?

You could also form a new LLC with you both being members.  

I’m very green and brand new to real estate investing so I wanted to make sure this was something actually feasible.

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

if it is new build, it cannot be a JADU. 

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.