In addition to the above comment, is anything documented at the municipality?

The deals I consider offer at least 10% cash-on-cash annually (most of which is tax-deferred due to depreciation), as well as some capital gain upon a sale.

In addition to Storey Lake, we like Solara, Windsor at Westside, Windsor Island.

What can you sell this home for as-is and what can you sell the home for if you spend the additional $450,000?

Once you have a handful of units, things become more stable because you gain a lot of experience and also when issues arise at one unit, the other units still carry the expenses.

And in addition to it working for us personally it also seemed to make sense financially.

Your confidence and readiness to begin investing will grow as you gain more knowledge.Become knowledgeable about the Lake County real estate market.

Seems like it could be something to do that could make the cashflow work more.Reason I ask is as I put proformas to see if buying a rental is better than investing in the market if I had the same cash available to start and additional cash flow each month (or negative)Thanks

The second floor has 3 bedrooms and 1 bath.My plan would be to convert the garage and living area on the ground floor into additional bedrooms to make 6 rentable rooms ($6k per month total revenue) with shared kitchen.

In addition, ADUs often add less value than they cost.