Or even the benefits/cons of that relationship being long term?

This attracts higher quality, mid to long-term tenants who often take better care of their living space.#3 Higher Rent Potential:ADUs offer an additional income stream, allowing investors to charge higher rents overall.

Be sure to check local regulations regarding short-term rentals as well.

Cap Rate is a term only relevant to commercial properties.  

Ontario is pretty complexed in terms of development

There is a definite market though.P.s. don't fool yourself with the market near term.

Historically real estate and markets are nearly identical over a long period of time. 

In terms of exit strategy, I intend to keep the property long term. 

Lot's of people use the term UpState, and since I've got my BP alerts set up... it isn't solely used by New York Upstaters... apparently lots of different states like to throw around 'upstate'  Anyway, I digress.  

Let the departing tenant know that she is on the hook for the terms of the lease until a new renter takes over.