Creative - you don't have to (& shouldn't) recreate the wheel starting out but be capable of taking the lessons and experiences of others and applying them to your market and your situation (this is very important now with how hot most markets are). 

I invest in hunting in recreational property acreage from 50-500 acres.

I believe the action I may take will be to wait until I have finished renovating the down stairs unit and then confront them that the foot traffic needs to cease as well as any recreational drug use.

I'm up that way monthly for work and recreation.

So yes its hard to recreate that price point .. that upside down seller,, that seller who had a 5 year call and bank won't extend and their is no credit to refi and was forced to sell..

It is not uncommon to see the "recreation room" on the ground floor of many newer 2-families be illegally turned into a third unit.

Don't try to recreate the wheel.

The Home has the following:First Floor and Finished Basement:(Owners Area)First Floor: 2 Bedrooms, 1 Bath, Office, Kitchen, Living Room, Dining Room, Enclosed Porch Finished Basement: Full Bathroom, Laundry Area, Living/Recreational Area, Tons of Closets/Storage, Mechanicals RoomBasement In-Law: (Tenant)Separate Entrance, 2nd Shared door with Owners finished basement, Kitchen, Bathroom, Living Area/Bedroom, Closet SpaceSecond Floor: (Tenant)Shared Side Entrance with 1st floor owner, 2 Bedrooms, 1 Bath, Eat-in Kitchen, Living RoomMy issue is this:Currently the owner rents out the 2nd Floor and also rents the In-Law suite to a "relative".

This would be for buy and hold rentals.I've been working on creating my own but thought perhaps some kind soul out there would help me avoid recreating the wheel here.  

Like Ben, we typically combine trips to the property with other recreational activities in the area.Andy