Hi Debbie,That sounds like a really awesome setup and bravo to the local government to allowing this!

Everything costs more than you think it will, takes longer than you think it will, and exit strategies of selling or refinancing are a bit more complex and difficult than strangers on the internet make it seem.

@Daniel Mendez As much as possible.If we do a holding agreement to take the unit off the market we try to get them to pay the first month rent and any other move in costs other than the security deposit, which they pay at lease signing. 

Renovations would cost around $30,000 but the only things I've done are Plumbing, foundation work, gas line, and new windows.

There was an additional cost of 3k that we didn't expect because we didn't walk the attic, but that's to be expected for a sight unseen offer.

Partner Driven financed the S Vernon Rd deal using its own capital, covering the $116,000 purchase price and $19,500 in renovation costs.

All of this has cost me about $10,000.

Partner Driven financed the S Vernon Rd deal using its own capital, covering the $116,000 purchase price and $19,500 in renovation costs.

In general ADUs add less value than their cost.  

Partner Driven financed the Rue Montaigne deal using its own capital, covering the $195,000 purchase price and $30,000 in renovation costs.