Adding Square FootageIncreasing the usable living space of a home, such as by finishing a basement, converting an attic, or adding extensions, can dramatically raise the ARV.

@Dean Malka 10k for average kitchen and 5k for average bathroom Flooring is $4 a square foot for LVP HVAC $5k Electrical panel $2k.This is all ball park.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Ten acres in Texas with a mobile home to start is a smart way to get your foot in the door while planning for your dream home. 

Here are the details of the property:Property Overview:Location: Texas2 lots, 2 warehouse buildingsFinancials:Mortgage: $4,897/month (balance: $530,000)Insurance: $830/monthProperty Tax: $1,800/monthBuilding 1:1 tenantRent: $7,570/month12,000 square feetBuilding 2:3 tenantsTenant 1: $2,850/month (5,000 square feet)Tenant 2: $1,793/month (2,500 square feet)Tenant 3: $895/month (1,250 square feet)The property was appraised for $2,200,000 three years ago.Given the current rental income and expenses, the cash flow is decent, but my family friend is looking to explore options that could potentially yield better returns.Would it make sense to:Sell the property outright and invest in higher cash-flow opportunities?

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Getting the foot in the door with a primary residence is a great way to start.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

We are now preparing to foot costly lawyer fees ($10k+ according to our lawyer's experience with difficult cases like this), and likely won't see a cent back since we have so little information about these people and they may not have anything to lose.My heart goes out to everyone who is truly struggling due to the pandemic and are, in earnest, doing their best to be responsible tenants by communicating with their landlords and trying to work things out.

@Silas Melson, I agree with @Bruce Woodruff that a price per square foot approach is likely to be the least accurate and least useful.