Can you measure it, lol.

And going a step further, I have noticed many persons speaking recently of the housing market in terms as if housing value are a static measure across time of which the market can over or under price.

I say uncertain times maybe need uncertain measures.

It's a good reminder, especially for folks that want to invest turnkey that there are still due diligence measures you can take even if you're not in the city (call city planning/development), check crime stats, check with other investors in the area, etc.With that said, how did you land on Montclair if you didn't perform any due diligence on the area and it wasn't your backyard?

If you're looking to build a real estate portfolio as quickly as possible, CoC returns is probably the better metric to use.Ultimately, I think compounded ROE is what really drives/measures wealth creation, but when first starting out, maximizing CoC can help you grow more quickly.

Only caveat is I think they measure this against the property the ADU is being built on vs another property such as an investment rental.

You will have to handle frequent check-ins and check-outs, provide amenities, manage cleaning services, and handle any issues that arise on a short turnaround.Pricing: Short-term rentals generally can command a higher price per night compared to monthly rentals, but the occupancy rate can vary depending on seasonality and other factors.Security: You'll want to consider investing in good security measures like smart locks, security cameras, and an effective vetting process for guests.Wear and Tear: STRs can cause more wear and tear on your property because of the frequent turnover.

It would be adjacent though, behind the garage, not directly behind the house so I'm hoping that measurement doesn't affect it.

Is it built into the lease, measures and penalties? 

This is generally in the 0.5-1.5% range.Typically, actively managed funds are measured by how they perform relative to an index fund.