Time to create depends on what you want, but normally it'll be 5-10 hours.

Depending on the zoning of your property, the configuration of your lot and the construction of the garage, you may not be able to get a CO from your city for the extra unit.Your best bet may be to make use of the space yourself, provided that your tenants still have proper parking.

Depending on what your needs are, it may suffice.

It all depends on you and only you!

There is generally a floor and a ceiling on price per square foot, in any given area, and $20-30k for a couple hundred more SF might absolutely be right depending on the local market.

I would never depend on a city or small government to do something.

Of course you'd be inheriting any unknown liabilities of the LLC, and you'd be assuming the llc's basis in the property and depending on the LLC original purchase price and depreciation taken, a much lower basis than your actual "purchase price", increasing your taxes when you sell.

Depending on price point there are a range of options, although Kelowna is getting quite competitive (as I would assume Victoria is as well).  

@Jen TeskeIt just depends on your strategy and opportunity costs.

It totally depends.