Or, do a combination of the two which would be an asset management fee plus a performance bonus at sale.

Plus the state density bonus law. 

I would probably still be happy with lower appreciation but obviously what happened with the market the last few years was great timing and a huge bonus.

Having 2 acers is a huge bonus for those rentals.

It's good for flips, BRRRRs, or a place holder if you find a screaming deal that you can't pass up until you get a big bonus or increase in income; however, it's not ideal as a down payment or purchase on a standard buy and hold.

Was initially just going to do an ADU (yellow) in my backyard and garage conversion but have decided to also most Iikely cordone off the master BR + BA as one unit, and he bonus room (will add a bathroom and hot plate).  

My annual bonus, net, is 20-25K.

Lets call that the :( side.2) And there is the happy side... passive income (syndications, passive partnerships ie medical/dentist offices) and passive losses (depreciation, bonus depreciation via cost segregations common in syndications).

Minor structural repairs, new roof, upgraded electrical, and finishing a 2 bed 1.5 bath with a bonus room.

Someone with few years of tax experience and trying to master all areas of tax can be a little scary.There are many unique tax laws when it comes to real estate - 1031 exchange, Qualified Opportunity Fund(QOF), Cost Segregation/Bonus Depreciation/179 Expense, Real Estate Professional Status(REP).Best of luck