It added far less value than the cost of the addition.  

Hey Elizabeth - I'd factor in about $10k to get a padsplit up and running when it comes to furnishing which would include washer / dryer, additional fridge, bedding/desks, common area furnishings if you want to offer a little better experience.I'm only familiar with ATL - I think accounting for 1 move in / 1 move out per month is a good conservative assumption here.$8kish / year or so on routine and reactive maintenance combined which should include your cleanings, lawn care, maintenance calls ect. 12% per month of gross rents should be a good estimate if you want to look at it like that!

To mitigate risks, I strongly encourage getting a home inspection to fully understand what you're buying.If the property checks out, this area can be a great addition to your portfolio.

Unfortunately, she frequently turns it off to save on electricity, which exacerbates the issue.i have also sent her extra radiator heat so can just plug in , but she refuse to use because she has to pay high electric bill.She complained about the unit's insulation and requested that we install an additional baseboard heater( whats the use if she doesn't turn on the heat) .

Find a realtor that preferably has some investment experience that you get along well with and keep an eye out on sites such as realtor, craigslist, etc.

They also offer a small business plan if you need additional functionality for rentals. 

The minimum down payment for a property in this price range would be roughly $27K.That said, you also need to account for bank closing costs, inspection costs, appraisal, attorney fee, and title costs.Your scenario may require a seller's concession to account for these additional expenses.Investing with $50K is totally possible in this market but your journey may be met by challenges i.e.

The best will often ask for nothing until they set foot on the jobsite and really start with site set-up and demo. 

So I would go on different sites like Roomster, FB marketplace, and similar sites like that to see what people are renting rooms out for.

Site Civil and land use planning....I've been in the conversations for major clients that have both pursued an eminent domain against adjacent owners and have had takings due to eminent domain.