Options The crazy thing is that using the strategies and techniques I have just discussed does not have to increase risk, unlike property development, rehab, land speculation, 80% leverage, or converting residential to commercial.  

To answer your other questions, you would be able to charge more for the additional space, but I would think that would be negotiated when you make the modification allowing them to convert the drive through space. 

Does it convert to common equity?

We estimate that the property is nownworth $950,000 to $1,050,000 (based on comps) - we gained approx $500,000 in equity by converting this into a commercial property!

If I'm understanding correctly, there are also additional tax benefits to fixing up/renovating our primary residence after we have converted it to a rental?

Find a home that enables you to convert an existing space into an ADU, near a level 1 trauma hospital and rent that out to traveling nurses/residents.

There are at least 3 or 4 people who have courses on it so it is a real thing.It is closer to STR that LTR because they are always furnished and can easily be converted to STR if you have a gap in bookings.

It costs about $2000 in Destin, FL for instance to convert a regular residential use to STR use permit if it's the first time the house being coverted for usage.

In addition to this, I own a property in Plantation, Florida, where I’m exploring the potential to add apartments or convert it into a multifamily unit.

I've been considering the possibility of converting the property into a sober living home.Does anyone here have experience successfully operating an investment property as a sober living home?