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Are there factors that am missing to consider if this conversation would really add equity to the house?

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Am I missing anything?

It seems that some of the comments on this thread miss the fundamentals of Tangible Property Regulations.

Inspectors will check for leaks, sagging, or missing shingles, particularly in older homes.

You may be looking at single-family homes and miss out on a multi-unit property that does not cost anymore investment cash than the single-family and you will miss out on a gold mine that can make youfilthy rich.99% of all investors, including the gurus, do not know how to analyze investment properties the right way.

Many landlords on this forum miss this - they often tend to be conservative in their political values - conservative policies, in that sense that they are "landlord friendly" also tend to go hand in hand with policies that make adding new supply easy.

Unless I'm missing something here, it sounds like just renting it out personally is the best option. 

This was a bit of a let down hearing all of this, since there don’t seem to be many duplexes or front houses with in-law suites that would serve the same purpose.Is there something I’m missing?