I have a lot of interest in the boutique hotel space and have found an on-market property near me with huge potential and lower entry cost than any other deal in the area.

Buy something that's turnkey with value-add potential.

Lower risk, lower reward.Flipping by yourself or with a partner is more risk, more potential reward(also more potential LOSS).

Im hesitant because I dont want it to interfere with my ability to secure financing in the future and frankly I not interested in taking on the risk without any potential reward.1. 

This will get you a better idea of the potential fair market value of your home.

Minus potentially a small discount since it's an ADU?

There shouldn't be double taxation because rental real estate normally operates at a tax loss.The potential time that there will be a tax consideration is when you sell the property.However, your resident state(MN) will provide you a credit for taxes you pay to a different state.This will avoid double state taxation.In general, California state taxes are higher than Minnesota state taxes, therefore, you will be paying the higher of the two state tax rates, which is California.

Seeking help from realtors, meeting with financiers can be instrumental in handling such investments as these are areas where one would need experts’ advice, lawyers or financial analysts for guidance!

I know I will find answers if I keep reading and exploring, but I have a potential deal going right now, so I need the answers sooner rather than later.1.

Hey All, I am purchasing a friends property in Cleveland, OH with a wraparound mortgage (my first time doing this) and I was wondering if anyone can refer a lawyer/title company that can assist with this please.