So if housing stays strong, so does inflation and rates will remain higher.

It's a big project (we went the custom route) but I'll operate it as a STR and expect it will gross $4,500/mo or more.While appraisals may not have caught up yet, I think you'll see strong sales prices for properties with ADU's.

I’ve been a very passive investor but I’m looking into buying our first rentals out of state and becoming a real estate professional. 

Find an agent who believes in the value that you bring to the community and desires to partner with you in that venture.

Partnered with another LLC not on mortgage.

I have an opportunity to partner in a large scale A-class multifamily / mixed use development.

Networking with like-minded individuals is an excellent first step towards building a strong foundation for your real estate endeavors.

I would only consider this if they can demonstrate they are a professional company with a long history (operating 5+ years would be my standard), and if they are willing to make it financially beneficial to you (higher rent rate, they handle maintenance, etc.).There are a lot of "businesses" that started recently that have no real experience, meaning they've only operated in a strong market.

I also believe in strong growing metros.

In fact you seemt to be on track to have a new opportunity and partner potentially.