Additionally, checking local listings on Zillow or Craigslist can help fine-tune the rental rates in that specific area.

At the current price, adding the additional lots would make them about $30,000 per lot, depending on the price of the additional utilities that need to be added. 

Also, make sure there aren't additional restrictions on the property condition, compared to a conventional loan. 

Be sure to have a detailed discussion with your lender to confirm compliance and explore all available options.Feel free to reach out with additional questions—I’m here to help!

Aside from that the biggest value add areas I see are as follows: Kitchens, Bathrooms, decks/patios (if added), additional rooms/bathsKitchens and bathrooms tend to be the go-to, but all of those can help you get the most bang for your buck. just keep in mind that if the area is already of high quality, then it may not be the best area to spend the money vs something that is blaringly in need of an update.

I charge fees that create additional income.

Make sure to have a security deposit that takes into account the additional risk.

Happy to connect and share some additional experiences if that interests you.  

I own my own house and I own some land out of state, so I have assets I want protected.I have quotes and will be purchasing an insurance policy that provides 1 million in landlord liability and I can also purchase an additional 1 million in an umbrella policy.My question is, is it even possible, or has anyone heard of a landlord getting sued and losing over $2 million on a simple duplex?

I use Advanta IRA and have been happy with the level of service that they provide.