@Mike McKinzie not much more to be added to the lists above other than patience.

From there, I would check the comps to make sure that there is enough value to be added by adding on another bathroom. 

My background and passion is teaching and have mentored people in MF for years, both formally (for a fee) and informally.At this time there will be no charge for the meet-up and it's content, just wanting to give back and help others along the way.My Wife and business partner is a CPA with a background in MF tax and audit so she will be adding tons of value as well.The first one or two will be a welcome and get-to-know-you thing unless it looks like it's going to be well attended, if it is well attended then we will try to provide some high level insights and knowledge.

My background and passion is teaching and have mentored people in MF for years, both formally (for a fee) and informally.At this time there will be no charge for the meet-up and it's content, just wanting to give back and help others along the way.My Wife and business partner is a CPA with a background in MF tax and audit so she will be adding tons of value as well.The first one or two will be a welcome and get-to-know-you thing unless it looks like it's going to be well attended, if it is well attended then we will try to provide some high level insights and knowledge.

I will be closing on a single family house tomorrow, and I want to convert it to a two family I will be adding 300sq feet of space.

If decide to use the company again, speak with the owner about future authorization, and “quotes” as well.......ALWAYS ASK FOR A QUOTE, you will still pay a trip charge, but it will be added in to the final cost, if you allow the tech to perform the job.

also will this payout be added to my TOTAL CASH INVESTMENT since it is a capital expenses similar to initial renovations? 

Have the wholesaler issue an invoice for the amount of his/her cut and send it to the title company; he will then be added to the HUD-1 on the seller side of the transaction as an additional payee.

Labor including mud, tape and corner beads is $25-$30 for level 3 finish.

You would just be adding complexity by accepting rent checks through the LLC at this point, so it would just be easier to collect them in your own name until the LLC is set up properly.The best strategy to utilize an LLC I have seen for investors in your situation is through a land trust.