With standard ceilings, and single-story I would expect to spend about $100k for basic turnkey on that addition with a hungry builder. 

I don't know if this has been standard across the board, but in the few that I have looked at this also seems to be the case.

Gas/Heat/Hot Water is included in the rental, when completing the proposed rent form could I ask for more rent money or should I stick to what the property is originally listed for? 

Let’s hope the baby isn’t thrown out with the bath water.  

Maybe turn that red L into a straight line and put in a standard width door that opens in To the bedroom.

For the standard single asset syndication the timelines just don't work).But beyond that:Most institutions want to see 15 yrs of track record before investingMost institutions will require 10% co-invest, and given the check sizes institutions write, many syndicators don't have that kind of liquidity available.Most institutions will require a true corporate structure.  

Then you have tenants not paying rent, evictions, renovations, HVACs going out, water leaks, etc...and then you think....oh now I get it.Real estate has been by far my best investment when it comes to ROI.

An engineer can help ensure that the conversion meets all current building codes and safety standards for residential living spaces.4. 

I'm passionate about all types of real estate, but currently interested in multi-family investing and house hacking.Outside of real estate, I enjoy the water and sports.Excited to learn and connect with you all!

Mechanicals are in good shapeARV: $280k-$300k~$74kish left on the mortgage - 6.75% interest about $890 monthly payment / HOA ~$200 a month / Insurance $35 a month / Taxes $355 per month / Tenant pays Water, Gas Heat.