If you're buying it shortly and THEN after you own it will it be ready and available for rent-the costs will be capitalized and accounted for with the basis of the property as well (when you eventually buy it). 

Just spoke with a business dev rep from BAM today, good conversation, said theyre not worried about rates right now and have plans in place to account for them. 

Don't forget about your property taxes going up to account for that ADU.

Depending on the size and scope of the project, an architect may need to provide a more detailed set of plans to get the necessary permits.

I have some money in my savings account but not a lot.

Obviously one would still need legal and accounting support. 

Second to cash in the bank is HELOC cash because you can use it however you want (you just have to see it already in an account).

.)- All in Cost = Cost to build * Square foot  - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost   accounts for agent fees and closing cost- Initial List Price = Sales price + 10%      A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.

Each multifamily building I have has its own bank account.

Our account manager, Maria Barnes, responded quickly to our questions.