I have this idea floating around to build an extension on the property or a separate ADU and finance it myself prior to refinancing, but that might be a bold move this early on in my REI career. 

Ideas on how to proceed in a situation like this would be appreciated.

If you're holding that card you can play it whenever you want and get an edge over someone else who doesn't hold that card.Just so you know, lowest capital requirements are 20k, then next level 50k, then in the baller markets you better be ready to be in for 100k in one deal and if that's your entire roll then plan on not sleeping for like 6 months as you worry about every little detail.If you, or anyone, really wants to build a foundation and get into a rhythm of doing 3 - 4 projects per year then you will need to mine the opportunity and it will take more than one market. 

Investment Info:Single-family residence buy & hold investment.

The lot is finally for sale and in the listing it states almost exactly the idea I've had for it.  

Investment Info:Single-family residence buy & hold investment.

Investment Info:Single-family residence buy & hold investment.

Lots a great ideas in there.

I think all your ideas sound great.

Investment Info:Office Space buy & hold investment.