It is truly devastating, and I know so many amazing hosts/properties in that area.

Will they be depreciated over 27.5 years or as personal property on a shorter schedule? 

Holding the property could require subsidizing rent, making it risky.

I highly recommend reading the BP books for self-education and house hacking a 2-4 unit property for your first deal.

The biggest issue with ADUs is small units in small count is very expensive development.  

Most homeowners shift to winter rentals during those months to keep some cash flow.If you’re planning to use the property yourself for two weeks in the summer, it’s important to keep in mind that it will take away a significant chunk of prime revenue, which will make it harder to break even or generate solid income.If year-round traffic is a key factor for you, you might want to look into areas down south or near a National Park, but with the right property and strategy, Cape Cod can still be a good investment—especially if you’re looking to have something to enjoy and eventually leave to your kids. 

Currently, I am in the phase where I am doing minor fixes to the property and plan to begin looking into property managers.

This was a property in an area my family loves to vacation in because of family ties to the area.

Getting the same rents as some of the properties I was looking at in Columbus for almost 2x the price 

Once that deadline is broken, I do not give that same renter another chance.You need to really think this through, develop a policy, and run it by an attorney to ensure it is legal and makes sense.