Insurance is a maybe still....Its not about having a ton of capital and having expendable or available resources, its merely a business decision, not an emotional one, it sucks it happened, but its just an issue that needs to be handled, the question is what is the most effective time of handling this issue.I value my time @ $300/hr. plus an attorney on the low end will be $200/hr. - then a few people on my staff and a ding on my insurance - all I am saying is that I am already halfway to $10k, I can just bite the bullet make a business decision and just handle it. 

I am big into budgeting/planning/numbers and am trying to track my expected expenses as accurately as possibleI’m at a point in my life where I’m willing and excited to expend the extra energy to maximize my potential for long term wealth.

He refunded our money but we had expended time and effort hiring him and explaining what we wanted.  

A garage to be converted into a room will also add valued, but you have to considered how much money will you expend vs your ARV.

Hi Kerric,Maybe land value less scrape off cost, but did you ever see the Tom Hanks movie Money pit.One issue after another, all unpredictable.If it's a labor of love and you have the expendable money that's different than an "Investment Decision".Based on the fact you have to ask about the decision, taking on this building might be like someone with a learners permit asking to drive in NASCAR.

You may want to consider expending your search to other cities.

If it's NOT directly involved in producing the product it/you are an expense, liability & a debt that is expendable'. 

I don't have a ton of expendable income.

Please advise as I'm considering buying the course and expend my knowledge about investing in Trust DeedsAny help appreciatedDave DoyleLos Angeles

Your occupancy rate will definitely be overall higher, as @Paul Sandhu mentioned, and even though the individual units will rent for less, if they're all rented simultaneously you'll probably be getting more combined than you would from renting the one big house.So, my thought is, create as many units as is sensible and legally possible (your neighbor was wise to expend their parking), and create them in such a way that they would make sense for LTR as well as STR.