I am moving there myself and cannot get enough of it, the town is growing fast, has a largest tourist industry, and very Air BnB friendly.

Hi,Wondering how difficult it is to convert a detached recreation room (permitted) to an ADU. 

I will let you know the largest hurdle in todays market for investment properties is using FHA loan the second hurdle is structuring an offer favorable for the seller that is specific to a multi family.  

I've seen a handful of multifamily properties on lakes and other 'recreational areas' that are traditionally dominated by STRs, so I would think that a smaller local bank would be more willing to consider a multifamily in that second home loan program.

Since I’m living in the house it would be a recreational value add to me, too. ; ) Thank you for your input, Wanda.

I've done it for 32 years with a formal credit background from 2 of the largest banks in the world and I'm still learning every day.

The authors are the 5th largest MHP operators in the country and committed to making the asset class world class.While this step may be some time off for you, the intricacies of the business take a long time to absorb and will be well spent time in between your 1st deal and that day.  

@Caitlin Damani , Congratulation on choosing the 4th largest business centers in the world for your investment.

Conversely, if you are leveraging the money to lend and you are having to pay a premium then sure rate matters since you want to make the largest spread.

Below are the two largest that I found.Boulder City Hospital - 400 employeesBureau of Reclamation - 1,000 employees (including those working at the Hoover Dam and related facilities)Boulder City is a relatively small city, with a population of just over 15,000 people.I believe they have restrictive building codes to limit growth.Many people live in southeast Henderson and commute to Boulder City.