If the property is fully leased and operating well, like your situation, the numbers might not make sense.A few questions to think about....Deferred maintenance or layout issues: If you already need significant updates, the conversion might be a good opportunity to reconfigure the space.

The annual rent increase is limited to 3.5% a year, however this year, we've spent about 35k in new siding for the building, a new floor for her apartment, a new fan, new stove and hood. 

But in the attic space, as well.  

My current residence in Oceanside CA is a half acre with plenty of space.

Assets identified in this study include:Appliances: Dishwashers, laundry machines and refrigeratorsElectrical and communication systems: Specialized equipmentCabinetry, Countertops and shelvingInterior Finishes: Laminate flooring, carpet, and decorative elements.Security and communication systems: computer connections, alarm systems and telephone connections60.8% of the total depreciable basis was classified as 39-year class life.

You can hire a cleaner to clean, charge the tenant who left the space dirty and not leave your high-paying job to do low-wage work. 

In Denmark, these communities combine private living spaces with shared common areas like kitchen etc., fostering a strong sense of community among residents.

Unlike e-commerce or social media platforms, where data privacy issues are more visible, the real estate sector often operates behind the scenes in this space.

.-  Expand:  We can't expand at this location, and I have spent 3 months looking at every potential lot and can't find a space the right size, zoning or price to build on. 

It was a wild ride for him, especially in the first year, but seeing guests enjoy the space made it all worthwhile.Given your engineering background and rehab experience, you're well-equipped to handle the complexities.