This is a free service for you as the landlord.

I am helping a client who is also a Veteran to do this exact thing right now; at first he wasn't sure he wanted to move twice to make it happen, but when he realized he was going to basically get a cash flowing rental property for free(no money down) he realized it was an easy decision.

Everyone here seems knowledgeable and kind and hopefully can give advice.

Feel free to DM me and we can walk through it. 

Since this sheet, I've revised to a 14% IRR.If you want more details, feel free to DM.

Feel free to reach out to me directly if you have any other questions, want to discuss further, or if you would like flexible financing options!

I'm not very knowledgeable and would appreciate your input. 

If you're interested feel free to give me a call and I can try to answer more of your questions. 

If people are getting free electricity and water, they tend to be a little less frugal :) .Then check on insurance costs for a MFH and add that to your projections.Finally, talk to your contractors and see what requires permits, what their experience has been in getting them to pass inspections, the timeline and the cost.Factor all of these into the decision to move forward or leave as is - maybe advertise it as a 4/1 with a home office with outside access and get more rent that way.One last point - I hope that the addition you mentioned was done with permits and is reflected on the tax rolls because if not, you may open a can of worms you wish you had not.