The in law suite is fully functional as a stand alone unit (kitchen, bedroom, living room, bathroom) and is separated from the unit 1 by an interior door that locks and has its own exterior entry.

functional, where is it located, CO2 issue if gas or is it vented adequately?

This area contains old (1970s) housing stock, mostly smaller ranches with some functional obsolescence and a fair amount of crime compared to other places.

Both the revocable and irrevocable trusts serve specific functions, though I find myself using more revocable trusts with my clients.

Kitchen has had an active leak- source unknown- that has damaged most of the cabinets, master shower and tub are non-functional, AC unit needs to be replaced, garage door needs to be replaced.

An average 1960’s property requires at least $65k in rehab to undo functional obsolescence.

However, if you can find a 2/2 with a den or anything that could function as a third bedroom (even without a closet), it can make a difference. 

However, my contractor just happens to own a 3 or 4 unit on the next block and he said he's managed to keep students in his rental rotation fairly easily. 

Purchase price: $375,000 Cash invested: $18,000Converted our Basement into a Fully Functional Apartment- My only regret was that I didn't do it sooner!

Purchase price: $375,000 Cash invested: $18,000 Converted our Basement into a Fully Functional Apartment- My only regret was that I didn't do it sooner!