Rental Rehab Planning

[Joey H.]

I am under contract to buy a rent house and I am trying to figure out the extent of rehab I would like to take on and what it will be worth. The house has 2 bedrooms, 1 bath and two living rooms. It's in a transitional neighborhood that I would anticipate would attract younger professionals. I think it has the space to convert the second living room into a 3rd bedroom and the bath into 2 small bathrooms. My question is which configuration would be the best option as a rental?