I have my first property currently in rehab phase. 

Just kind of in the brainstorming phase.

Please remember, this is in the idea phase at the moment and details, such as a business plan, etc , are not in play at the moment. 

The Riverfront has gone through a few development phases and of course BPG owns most of the condo buildings down there as well.

@David PereiraGood questions, that depends on your goals, strategy to achieve said goals and risk tolerance.Personally, in the build phase of my strategy, I like leverage as long as it provides some cash flow.I also have to be mindful of the partners I have brought on, some like a lot of cash flow and others don't care as much.

Each of these phases has opportunities and each has challenges.

To find out at the permitting phase that something is not allowed could be real bad to your expectations.If in doubt, maybe at time you are acquiring (during due diligence) pay a consultant to verify your assumptions with regard to ADU and JADU thoughts. 

That's a huge savings, and I'm in the acquisition phase of my portfolio, so I will do whatever it takes to get more properties here.  

For perspective, it took us over 10 months to get through the PLANNING phase of our ADU build.

A few phased out at the end of their leases and 1 up and left in the middle of the night and they owed me some back rent which I took out of their security deposit.