Building on my property for Airbnb

[Ernie Be]

I have a building on my property outside of the city limits that is not being used and am contemplating turning into an Airbnb. In my mind I can see it being a great idea, but the thought of spending money makes me a bit nervous. I am self employed, early 40s... property itself is worth vicinity of mid 600k, 100k in a cd, 200k or so in ira's, vicinity of 60shk in a savings.  I would like to hear some personal input on whether this sounds like a general good idea. The town is not a booming area for travel, but it does have it's seasons when semi busy. I foresee the upgrades being 100k+. Everyone I talk to seems to think it's a great idea but would love to hear some of the pros input.

also, does adding another liveable separate building add significant value to property?