My real estate agent thinks I'll only get 1.1 million for my home but due to a few factors I think it should be more. 1.

While the cost can vary depending on the scope, zoning, and materials, I’ve seen similar projects run anywhere from $50,000 to $150,000, depending on factors like plumbing, electrical upgrades, and structural work.If you’d like, I can connect you with a few contractors or architects in Chicago who specialize in basement conversions.

What occupancy percentage and turnover cost did you factor in?

I own a small multifamily commercial in Albuquerque and can confirm the diversity of the economic and cultural factors that you mentioned. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

I’ve been in a similar position where I wanted to scale but equity was a limiting factor.

You'll still make a premium over long term rental rates and not have to deal with a cleaner very often.With airbnbs, the beauty is not having to hire a Property Manager, your cleaners act as eyes on the property. 

Or is it other factors? 

That means clearly calling out 4+ awesome amenities they can’t resist—like “Lakefront Retreat | GameRoom | HotTub | EV Charger” instead of “Charming Cottage with a Beautiful View.”Why It WorksGrabs attention with specifics (people love hot tubs).Tells guests exactly what they can expect, so they’ll click over your competitors.Makes your property unique—no more “cozy” or “adorable” listings lost in the crowd.Try ThisBrainstorm your top must-see amenities.Keep the wording short, clear, and hype-worthy.Swap out any fluff words like “cute,” “lovely,” or “charming.”

Never invest in any city on this list of the 50 most dangerous US cities.Low operating costs: High operating costs are one of the driving factors for many companies, leaving states with high taxes, regulations, and other costs.