When I do the square footage wall to wall, using the designer drawing measurements, I come up with 574 total.I'm trying to determine if my feelings are correct that this space is worth more as as self-contained rentable space that could either be used as a MIL suite, or man cave compared to simple square footage with all the components.Of course, the added bedroom, bathroom and laundry are key components...but I'm not so sure about the sink, fridge, and convection oven adding that much to it.Is there a known formula that I can apply to this scenario? 

@Lindsay Hamner A key component for your mail success is the list.

Trusting the wrong people to have their back without verifying.Paying retail price for a turn key property (with no value add component) just because the cash flow numbers seem to make sense and they think they will hold forever; limiting their exit strategies in the process.Thinking that just because they can buy something that they should.

Again though W2 is the key component.

Whatever you do keep in mind property management is the most critical component to an investor's long term success in rental property, especially when the investor is out of state.  

But my point is there's usually a value add component.

@Yonah WeissI understand numbers too, and I've been having this same discussion recently in regards to timing, tempo, DSCR, and cash reserves.I try not to look at it statically with one deal.For DTDMS, I think that there is a physical, spiritual, and emotional component too. 

I let her know I have eight years experience as HOA president, I told her how involved I was in the day to day operations of the HOA, and how I supervised the replacement of all the vital components including pool gate, pool motor, patch and seal drive way, repainting if all the building exterior, letters, rules, notices, irrigation, landscaping, etc.

Originally posted by James Gavin: unfortunately that week my wife is away and we have two young children so I am going to have to miss it.James, Family seems to be a very important component in your decision.

One major component of it would be to redo kitchen + bathroom design within 3 - 6 months What was the outcome?