Sounds like this is going to be a great cash flowing asset.

This is only one of the challenges of adding ADUs.   

.)- If use the property more than 15 days or 10% of the time it becomes a residenceI suspect this is part of why the STR trend has picked up so greatly amongst professionals working in tech.

I would lease it to cover cost for 2/3 years and then I would sell once I could get $475,000+  Would be a nice ROI and is actually doable.Love this idea!

This is an insanely low price.

Im not sure if I do enough to call it active but it's my only gig right now since I retired .No involvement , I go check on the property in Colorado on occasion to check it out the condition.from my decades of doing this you pay income tax to the state you live in..

I can have them just setup an ACH for the monthly payments, etc...but I feel like this would be easier with some automation, and there just must be something that's already setup for this.

If it's formed right, typically all that's required is a certificate of trust and a few more documents to show the chain of ownership and grantee/grantor.Will this be a rental?

The investor was unaware of this previously.

If you do take on new debt or collections during this time, the lender will see and it will require that it be accounted for in your DTI (unless this is a DSCR loan).