However, for someone has wanted to invest in a locale that has had a long period of real estate price growth, I'm trying to choose my learning opportunistically.

I choose to invest in the most inefficient market available to me.

Sometimes I feel like most discussions minimize the long term impact this could have, choosing to think of it as a 3-month blip with no side-effects.

Should tenant choose not to designate a person(s), belongings will be handled in accordance with local laws and may be disposed of as the law permits.

Depending on the finishes you choose, the level of contractor you find.. and whether or not you go the ADU route, I would guess around 250k-500k depending on what you actually decide to do and the type of finishes you choose.

We have already seen companies like Apple and Amazon open campuses in other cities to attract talent and reduce expenses.Of course there are other reasons people choose to live where they live such as weather, cultural, family and friends, etc.

So that begs the question: why would we choose to put money into a place that will be taxed later at an unknown rate (401k)? 

The program also comes with tax incentives as well when it comes to tax reporting time, would you not choose to use that incentive as well?

@Tung PhamI would choose option #2.

What factors should be considered when deciding whether to use a rent-by-room strategy for an SFR or just renting the whole property out to a single tenant/family? Also, how does the location of the property play into...