A basic rule I tell Colorado STR buyers is that you can go cheaper on lesser used items but not the big stuff. 

@Lawrence MitchellIt’s great that you’ve built a basic understanding of real estate investing!

If it is big enough that they could all fit in one side, then maybe she could still only charge her father-in-law $150/month and maybe rent out the other side to someone else.Her current house actually has a basement that could be finished into an apartment.

Bonus points if you can convert an office space or finish a basement.

There is a basement, that if updated could probably be rented out for storage.

You could have picked it up, flipped it right back on the market for $300K without lifting a finger, or done a basic builder-grade renovation and sold it for $625K+.Also, most homes in the South End fall under RMF or R6 multifamily zoning.

a basement may not have egress required of having a bedroom in the basement. 

Although I conducted a basic septic inspection during the closing, and the system is in good working condition, it still failed the STR inspection.

I highly recommend starting with a basic househack, easy barrier to entry and gives you a crash course in being a landlord who lives on site.

SEO is a commitment did your not dedicated to that type of marketing use a basic website.