The appealing aspect here is the ongoing population growth and other economic factors.

Can they pay the rent without the money from the STR aspect?

Another appealing aspect of this property is that it includes a house currently occupied by an older couple.One major issue is that the house and the neighboring property share a well.

My husband is very skilled with the buying and renovating aspect of real estate.

It is a great place to meet new friends and learn about various aspects of real estate and more.Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersWishing you the best!

Consulting with both a real estate attorney and a licensed architect is crucial.The attorney can advise on the legal aspects of converting a cellar into a legal apartment, including zoning regulations, building codes, and the legalization process.The architect can assess the physical space, determine if it meets conversion requirements (ceiling height, egress, etc.), and create plans for a compliant renovation.The 2019 pilot program you mentioned wasn't permanent, and the high costs associated with it discouraged participation.

I agree with aspects of both posts. 

Along the way I have gained the knowledge to help my clients in all aspects of Real Estate.Buying a home can be both exciting and overwhelming.

I think the more interesting aspect of this entire decision is with the Buyer's agents.

Keep in mind, if you sell FSBO, you are responsible for every aspect and dollar spent trying to find a buyer.