Thanks for your input, comparing it this way reduces the the sticker shock of the 10.5% but it's still a tough to swallow.  

This is definitely a good point - people tend to get caught in the mindset of "MAX" cash-out proceeds no matter what, you can always reduce leverage (lender will pretty much not want lower leverage) to stay conservative and protect cash flow and cushion 

Earthquakes are a risk everyone reluctantly accepts, including 88% of all CA homeowners who also don’t insure for it.

I was not aware that it will solely be based on the work done rather than also including market comps.

Including land and build cost?

Quote from handy Man/Contractor around $25,000 not including windows. 

The ADU did a site visit, and the takeaways included adding a second story would be significantly more complex and expensive than a backyard ADU.

If you want more creative and customized financing alternatives then call Scott Miller, Ellis Creek Capital, at 407-758-1947.Let me know if you are also interested in a property manager as my PM is world class who has been vetted & approved by all of the big lenders, including Freddie Mac and Goldman Sachs.Best of luck!

So, if interest rates are a buyer’s primary reason for staying on the sideline, I recommend seeking opportunities to negotiate a reduced interest rate from a seller or looking at new construction, where builders are offering rate reductions and other substantial incentives.

I'd guess $12,000 - $15,000, including the utility work - based on my experiences in SoCal.....