If you find a separate habitable space, the ADU cost is significantly less.  

The only fees I incur are non-guest related repairs which Avantstay handles and the vendors they use are reasonable on cost. 

Any kind of non QM financing will have higher closing costs compared to conventional.

The equity pay down in many RE classes (residential, storage, hotel/motel, office space, industrial, etc) ispaidby the tenant.- there are ways to never pay tax on gains (1031, owe until death, etc)- cost segregation can in effect have RE acquired at no cost- sweat equity can produce additional return.  

for us its leaving a few chunks of wood in the crawl space LOL

As far as the users' preference of view over space...

That said, I've seen many of these carriers are pulling away from habitation exposures (non-renewing a good portion of that business).  

Over the course of a weekend—and fueled by beer, food, and sledgehammers—we completely cleared out the space.

The other quesiton i have is if private equity is starting to get involved in this market, companies like Apollo & Carlyle, does that change your feelings about getting involved in the space?

There is something to be said for knowing your ideal avatar, but you are taking on a lot more red tape and a lot less learning possibility.When you are a non-local investing out of your area, you are a mark for every deal out there.