Insulate, add electrical, mini-split ac, and possibly plumbing, as desired, drywall, tape and paint, put built-in cab's on one side if you want, hang the tv, speakers, etc, install bi-fold/multi-fold doors on the side leading to a patio, and replace the garage door with an insulated one keeping the track and removing the motor, or install a carriage type garage door into the existing garage opening.

Great post - I have several inquiries for clients with the desire to own coastal STR's and just noticed the red tape is suffocating when I would dive into listed opportunities and feasibility with the municipalities. 

Seems to me that selling to an organization like Habitat for Humanity might help you ensure you have a relatively consistent buyer, assuming the parcels you purchase are in desirable areas for them and meet their acquisition criteria.

The answer to your question really depends on your goals and desires to scale? 

I had zero desire to build a bunch of rentals this way..

Purchase price: $65,000 Cash invested: $65,000 Sale price: $225,000 Property was in a desirable location and had a great floor plan to work with.

Go for the desirable locations in the city and if you’re investing from out of state or country my recommendation would be to stick with properties that require minimal rehab. 

Cities and counties are constantly updating their policies, waitlists or processes and eligibility will likely be the key ingredient to desired usage.

@David Flores, what is the main desire to partner? 

For example, if the brick property is located in an area with high crime and other factors that make the area less desirable, it may be better to choose the vinyl property.