I do agree with @Jules Aton though, the best option may be to wait and save up for your down payment.

I would like to find a way to generate additional income and am exploring options other than having a long-term roommate.

It would cost a lot to get the planning approval and do a complete renovation of the 2 units.Can anyone suggest what would be my options at this point?

For example, I've had a couple of 3+ bedrooms sit for a longer period of time because they only had one parking space available (and no on-street options nearby).

Another option is to estimate value based on potential income and market cap rates, which can give you an investor’s perspective.

Still, I think you'd find it difficult to find one that would be a good long-term investment unless you had another ~20-30 years to go, it's at least cash neutral, and you don't plan to hold it too long (to avoid too much investment loss and before you get to the point where it's unsellable because of too few years left); that's another way of saying that maybe it suits your cash needs in the near-term or is at least less of a pill to swallow than other options until you find something that's more of a sensible long-term play

There are plenty of investment opportunities in the Detroit area as well which have the potential to offer immediate value, so I would weigh your options with care. 

These options can provide simpler and cheaper access to funds, especially if rapid property acquisitions are your main goal.Life insurance is a powerful tool when used for the right reasons—like estate planning or key-person coverage.

Great question - 20% down is the typical down payment for investment properties, regardless if it's a single family, duplex, tri or quad.We have a 15% down option for the same type of loan.

Shaylynn, looks like you’ve put a lot of thought into picking the right market, and you’ve got some solid options on your list.