I'm currently under contract for a duplex which is currently run as an AirBnB though I'm weighing up converting it to student housing. 

We want to run another 203K, this time converting a basment to ADU (Basically have to do everything: Permit, design, Egresses, full kitchen build, level concrete floors) as well as spruce up the main level.  

Purchase price: $142,500 Cash invested: $15,000 fully occupied, needs some updating, new roof soon, figure out porch thats not being used and falling apart, would like to convert attic to a third unit studio What made you interested in investing in this type of deal?

Wanting to convert older properties to newer, better locations, if possible.

So since it's not really in a metro area you can't really convert it to an MTR or LTR if you had to.

@Ivan FigueiredoYou double your investment in R$ over the last 11 years but you actually lost money when converted in USD due to the dramatic fall of the R$ against the USD.Let's assume I buy your condo today.

My issue with that request is that if I convert the house to a long term, I'd lose at least $600/month of income vs the mid term model I currently have.All that said, my DTI sits at 58% with the models they use.

I don't know if it is called "efficiency" when you have a studio within the unit (without a new construction outside the property) B) Or, do you apply to the city for converting the duplex into an official triplex (replacing the door with a dry wall)?

One tenant is in a conservatorship, another is section 8, I assume that is pretty straightforward to convert to us as a new owner? 

We lived there for 2 years and just recently moved and are converting it to a STR.Where are you wanting to retire to?