Hi Folks- first time house hacker.

What did you pay for it and what was the address?

If you are willing to pay market, buy a turnkey MLS property.

U will go broke paying for title search's.. 

You may pay $10,000 in interest but you only get back $2,000 back in tax savings. $2,000 is just a random number, the exact number depends on your overall tax situation.Building an ADU if you plan to rent it is business interest, not personal interest.

A lot of folks seemed to really really like Rod Khleif's approach.

@Arkadiy Iliyayev section 8 is paying well for these right now, have you talked to them?

In addition buying an existing ADU has the following advantages over building one 1) typically pay less for the ADU than the cost of doing a hands off ADU addition 2) get RE purchase financing which is superior to financing that is specific to the ADU addition.  3) there is no delay between financial outlay and income when purchasing an existing ADU.  

You would work it out that you charge the guests for the piece, then pay the artist directly minus a small fee.

You can have any note rate you want if you're willing to pay for it.