This likely would come close to the cost of a ground up 3/2 ADU addition which is rare.  

Are there alternative ways to do this that are more hands free for me but still effective? 

It also allows to finance the rehab cost into the purchase price.  

I'm trying to keep costs low while providing value and so I'm doing some shopping around.  

This change is significant for the financial feasibility of ADU construction in Chicago since water service costs can be more easily justified when collecting rents from two additional unit.Also proposes to allow larger units and to allow ADU construction in any zoning designation.

Effectively, this wipes out every penny I made from ALL of the investments on their platforms over the past 2 years.Of course there is risk. 

Evict them and eat the cost.

Also, maintenance costs are almost non-existent in the first few years as very little (generally) goes wrong in the first 5 years or so.

It costs $100 for a lease and several other documents written by investors and an attorney-approved for your state.

Acquisitions costs are low, property taxes are low, available housing stock is good, and there's always a need for workforce housing and rentals for young professionals.