Stock market investing is pure speculation...with a rationalization that it isn't, pure speculation.Real Estate Investing can be, if you invest for appreciation, and other future events that you have no control over, but there are an incredible number of entrance and exit strategies you can use for REI...there are very few for the Stock Market, and the Stock Market is where your spend money to get in...you don't have to spend a dime to invest in RE.

Unless you have alot of the structural work pre-existing (separate entrance, egress windows, etc), it would be impossible at that budget.  

Before pic frontAfter, added pop outs to give it a modern look and a fresh coat of paint.Back yard before.After, pool had to be redone and added grass and put in tile work in patio area (the concrete was very damaged)Before, main entrance/main living roomAfter, fresh coat of paint to walls and door.Before, dinning area and stairsAfter, new carpet through out 2nd floor and up the stairs.Before kitchenAfter, the kitchen and master bathroom were the biggest changes (more $$) well you can see the difference.You can see that we added the pantry (below is the pics of pantry before)yuk!!

Renting your old house can be a great entrance to investing.  

A Duplex (3 bedrooms on each side)  The Master bedrooms on each side have their own private entrance in addition to the main door entrance.  

These are images from the penthouse apt which will be a 3 bed 2 bath 1500 sqft condo (Est) with entrance on the 2nd floor as well as the staircase continuing up to a private roof deck.

It was originally a Victorian townhouse and is now four units.Are you sure the entrances are only 60amp?  

There is kitchen on each floor and separate entrance and exit doors to both floors.  

We need that because this house is a little bit complicated by it's structure and you need to add some sqf, moving the the main entrance as well as the path etc...The thing is - He has some personal issues (really bad issues) and can't work now.

The big first question to ask, is there a seperate entrance to the basement?