Duplex or basement apartment?

[Russ Eisenberg]

I just purchased a SFH that has a nice up/down setup. As per zoning, I could convert it to a legal duplex by adding a driveway and splitting utilities along with some interior mods. It needs major rehab anyway so the water amd electric split would be the major expense.

i plan to rent the upstairs LTR, and possibly STR the downstairs plus use it myself when I am in town (it is near my inlaws).

Question: Is it worth the investment in turning it into a true duplex, or should I just include utilities in the LTR rent and leave it as is with a solid locked door between the up and down?

Thanks all!