High earners should also consider estate planning tools like trusts or Family Limited Partnerships (FLPs) to minimize future tax burdens.Given his income level and tax complexity, consulting a real estate-focused CPA is essential to maximizing deductions and optimizing tax efficiency.This post does not create a CPA-Client relationship.

We're considering knocking down the carport and/or putting in another ADU, ideally a 2/1, to bring our comps to 6/3.Has anyone investigated or done this recently, and have advice on the subject?  

On the flip side, traditional financing typically offers better rates and longer terms but can take longer to close, and you’ll likely need stronger financials.If you’re trying to balance speed with cost-efficiency, it’s worth considering your project’s needs and how quickly you need to get funding.

This avoids the headache of eviction and wraps things up cleanly.If things escalate before their lease is up—like the music gets worse or complaints keep piling up—you could consider eviction.

I am considering investing in the Ohio market.

No one has time or inclination to look at 90% of the things that we would consider interesting to look at from an audit standpoint.

It is still risky considering that there are always variables that need to be considered.  

I would consider the tenant's past, as well as the condition of the unit, my local market, and other factors.

At that time I'll attempt to structure a 10 year term unless I consider a shorter hold period in which I'll negotiate the lowest rate possible to fit a shorter term more closely matching my remaing hold timeline.

Thank you @Drew Sygit, I hadn't considered the lien position of the lender in regards to the land.