So what kind of property would it take for you to increase your cash flow by $2000 - $3000 a year. 

Additionally, the house is 25 years old and could use cosmetic updates to increase rental appeal.

I focused on adding modern luxury amenities to increase the property’s appeal to the high-end market.

So spending 200k on an ADU will likely not increase your property value by 200k. 

Hopefully kept good records of improvements / anything to increase the basis2.

If your property's value has increased since you bought it... given the market trends in Albany, that's quite possible... you could tap into that equity sooner than you might think.

The increased risk is generated by the fact that the owners are relying on the validity of the tenancy in common Agreement for their usage rights, and it is possible to imagine legal circumstances under which this validity might be undermined.- If the subdivider or someone with relationship to subdivider sells, a public report must be done.

The shorter the prepayment term has an impact on increasing the rate.4.

It will be cheaper than our mortgage and our incomes will be increasing.

My terms are identical to yours as far as the 1-year lease with 3 options to renew (for them), 3% yearly rent increase, etc.