Should I convert my pole barn?

[John Andrews]

I have a pole barn approx 1300sq feet it already has a stand up shower and a bar . it would be easy to add a spilt unit ac\ heater and a bedroom, stove, and refer already has a farm sink? would this add much equity. I'm on 18 acres and the main house is a 2 bed 2 bath that I'm adding a 3rd bedroom too. Trying to build enough equity so when I refi I can get rid of my mortgage insurance. without putting cash down on the principal. I can add pics if allowed

[John Andrews]

 Because its an fha loan my mortgage insurance is 220 a month. And I'm a contractor so it would be only material. I'm just trying to figure out the best return in equity for my money