If your rent ends up being comparable to your current mortgage, it might not give you the cash flow flexibility you’re hoping for.

How do I compare that to a comp that has 1840 SF on the main floor and 460 SF of finished basement space (and 1200 SF of unfinished space)?

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I’d look into the cost of a 500 sq. ft. garage and compare it to the potential boost in sale price.

Also, just compare your listing with the competitor listings.

You look for comparable sales for other distressed properties that are similar and nearby and also counter that with finished version comps so you can see what your perceived spread could be.

Cleveland, Baltimore, Toledo, Indy etc....You will see net population decreases in most of these areas but these are the areas where the prices are the lowest in the USA and come with rents that are very high when compared to the sales price.

any suggestions on how I should compare these 2 options?

If you do something that is too high end or bold compared to what is available in the neighborhood, the exit could be very difficult