I bought this cabin partially completed so I the had flexibility to change the layout.  

In my area, the ones with a great location, updated and nice layout are still busy, multiple offers over ask, cash buyers, etc. 

I think location, amenities, and layout are much more important factors.

On the plus side, aside from the money, when you have to gut you often get to fix crappy layouts.

Leveraging my expertise in property acquisition and renovation, I guided the client through each step—from identifying the ideal property and negotiating the purchase to overseeing the conversion process.The conversion involved reconfiguring the existing layout to add an additional rental unit, ensuring compliance with local building codes, and maximizing space efficiency.

Upon looking at the house it noticed it had great appeal as far as location, layout and condition.

Hey Jessica, if you are still looking for options we had a room in our vacation rental that has an awkward layout and we wanted to provide another bed to boost occupancy.

It is a townhouse and the adjacent property (that previously had an identical interior layout and size) has gone through a renovation to expand the kitchen by approximately 100 sqft, and add a second bathroom.This adjacent property is currently renting for $300-400 more than what I believe I can rent my property for.

I still haven't answered your basic question, so if you're still reading at this point and haven't taken two Excedrin, then you'll need to know your street layout, width, curb & gutter requirements to get any type of estimate from a contractor.

Location, property condition and amenities can cause a wide range of rental rates for similar layouts (2 bed 2 bath for example).