ThanksTalk to knowledgeable general contractors and get estimates for converting it into a legal unit.

Be careful with these transactions and get advise from a knowledgeable real estate attorney who works with these to make sure all steps are taken to property protect yourself. 

Is there any websites or platforms that I can add to my knowledge that help with this diligence at fair/free cost?

Simon, Here in FL its much easier for us because we know a few things:1) The U.S. is severely under supplied in housing units. 2) Tons of people are moving to Florida everyday which makes point #1 even more drastic for us. 3) Interest rates are preventing people from selling their homes, because then they would need to re-trade for a higher interest rate buying a new home, which is creating even more housing demand.So with this knowledge, now we move to more market specific data, which is what I talk about in the original post.If a market shows decent growth and demand, then it all boils down to the numbers.Its important not to forget about any costs though.

So I am speaking from some 1st hand knowledge here. 

Whatever opinions you get from people here- if you consider moving forward have a knowledgeable attorney review the ppm to understand the good and bad

.- Market Knowledge: Local real estate companies like RE/MAX Select, with their 18 full-time agents, indicate a strong local real estate community that could provide valuable market insights.In conclusion, Shelby's real estate market shows potential for investment, particularly given its price growth and strategic location.

Is there a W-2 limit or is our CPA not knowledgeable on STR tax???

Thanks again for always sharing your knowledge!

@Natalie Johnstone I would look in areas you have some knowledge of, that you possibly have connections in or at the very least are landlord friendly and experiencing strong economic growth!