If you are prepared for the costs involved and the modifications needed to the property to make the basement unit conform, the pay off of creating an extra rent producing unit is huge. 

I think it is just as indisputable that higher cost markets will produce greater value add via a proper rehab.Next question is does initial cash flow have any correlation to actual cash flow over a long hold. 

Tenants pay all utilities.

Both units rented at $1500/mo with all utilities included.

These policies have been to the detriment of small businesses, the self employed and to large extent  true GDP producers.

Once renovations are complete, carefully screen tenants, set clear house rules, and consider furnishing the units with utilities included to attract reliable renters.

Since then, my cabins have tripled in value - worth easily $800K or more, and have produced $696,XXX in rents.  

I love their youtube channel as well that produces 2 or 3 videos a week. 

If the owner pays for all utilities, you'll definitely want copies of BGE bills.

Land is valuable as I could purchase a new mobile home and install and less costs since utilities are already on the land.