Advice on Unloading a Property or turning it into a Rental

[Valerie Bloomberg]

Hi Everyone,

My husband and I purchased a beautiful home in Suffolk Va in Oct of 2017 for $441,750.  We knew before going to closing that we really didn't want to buy it but felt really bad for the owner as his wife was dying and we had already been in the house for 3 months as we were given the approval by the owner to move in early as our lease was up at our rental in NC.  We dislike the area and would like to move ASAP, but there are a few issues.  It took the previous owner four years to sell the house, and Zillow now has their Zestimate for this property at $339,312.  So I had this crazy idea that we could renovate the house putting in a 2 bedroom/2 bath apartment and also remodeling the carriage house on the property into a rental unit, and we could probably sell it and not lose money or at least have an income property were we could rent out the 3 units and we could move and my son could rent one of the units while managing the other 2.  The other issue is money.  I am not sure where we would get the money to do all of these renovations.  My husband and I own our businesses and are concerned about the debt load.  If we don't do something like what I have outlined above, I think we will be stuck here for a very long time, and that is truly disheartening.  Any advice would be much appreciated.  Thanks!