A local RE professional should be able to provide this information to you as well.In New York, we deal with this scenario frequently and oftentimes it does not make sense to legalize ADUs because the permit process is extremely lengthy, the cost is high (sometimes $150-300K for 1 ADU unit), and the potential increase in property valuable is not worth the risk.If you already have an approved permit/plan and can get your renovation down to $80K, you may want to consider this project if the ARV is say north of $800K.** You should also look into any potential property tax increases associated with this change.

Realize a REIT also will cost a lot more for tax returns and potential reporting. 

Cost for real estate here is high, I’m sure there are deals to be found in and around the area.

So, I dont have a ton to lose other than my civil costs, application to the city, lawyer, etc.

So our maintenance costs are going to be very low.

The syndications can give you tax-deferred monthly/quarterly distributions due to the GP doing a cost segregation analysis and applying the massive yearly depreciation (on building/parking lot/roof/HVAC etc) against the yearly income.

In Florida HOA’s are required to carry policies with replacement cost, Actual value is not allowed by law.

Building cost more these days, alot more.2. 

Cost to replace $20000 BUT it will take months to get the materials, so the cost is $29000.

These lease termination will cost 2 month’s rent, 3 if senior disabled.