Digging out entrance for basement apartment

[Brendan Moehn]

I am currently looking for a personal residence and would love to be able to house hack, however duplexes are essentially non-existent where I will be moving.

My question is: Is it reasonable to dig out a back entrance to an already finished basement? Or would it be overly expensive to be worthwhile?

Estimated rent would be $550-700 for 1bed/1bath apartment with all utilities and internet included. Likely more for AirBNB.

Does anybody have any experience with this? I have a wife and 2 kids, so even if we decided to do Air BNB or something instead of typical long term rental, I'd still rather have a separate entrance with a form of separation from basement and rest of the house.

Thanks in advance for any insight!