I like the space as this is pretty fragmented vs MH, so cap rates seems to trend higher. 

I was fine with all these numbers.Then I met with contractors...First, I wanted to add a new bathroom and approximately 450 sq ft of additional living space.

I am new to real estate investing and BP, and I am excited to learn more about this space!

My best recommendation would be to find someone who is doing something similar to what you hope to do in the space and have a coaching call or two.

Would you help is wedding coordinating/planning or just rent the space out?

Address Your Financial ProfileBridge the Revenue Gap: Highlight your equity in the duplex and use your sale proceeds to demonstrate “skin in the game.”Partner to Compensate Experience: A financially strong and experienced partner can help offset your limited track record.Focus on the Land Deal: Secure the land at a good price, as it’s a crucial step in gaining credibility and attracting partners.Final ThoughtsYou’re entering an exciting and impactful space in real estate development.

@Nicholas Stout Welcome to the section 8 space!

  ( i have owned 3 brokerages over the years and will stand behind those numbers).in the RE training space my thoughts are :5 to 10% of folks that pay for training do anything with it.

I was able to turn my place into two units so no shared spaced helped a lot. 

If you are making modifications to the heating and air conditioning space of the property it is usually wise to pull a permit.