although they both are interdependent.The best way to understand costs is to get a Floor plan drawn and get quotes from at least 3 people in the area who have done ADU'sIt's always a good idea to involves a professional right from the start, especially someone who is experienced as they will suggest techniques that could bring value and save money in the long run.

My first goal is to find a mentor who I can donate my time to and in return he/she can help me learn more about real estate investing. 

To finance the remodel the best option you have is to use your cash.

My ultimate goal is to obtain financial freedom from a day job which I discovered was possible through wise investing!

@Ryan Moore,Ok, those reserve are not required to sit in your LLc account without earning anything.The whole reason we have reserve is to cover unexpected expense.

You are off to a good start with learning the process but the best way to stay off the sidelines is to start engaging with real people to take concrete steps towards a purchase (such as a lender)

Best advice is to visit the property, and make sure you get your professionals in there so that you can make a risk based "informed"  decision. 

Our goal is to build a sizeable portfolio to gain financial independence, while teaching our children along the way.

The key is to find a niche, like near that gun range, and to provide a "wow factor", like an in ground pool, game room, near a park, a natural preserve, etc.

I realize the way to protect yourself is to have more equity in the property, but it doesn't make sense to me to have 20% down in LA when I can take that and get multiple properties out of state.