Out here in Phoenix/Scottsdale you're only putting a mini split into an addition that you can't run duct work to, a detached shed/guest house, or a garage.

If you're a wholesaler, dont risk your deposit, and don't waste our time (unless you have a sweet off market deal!)

Quote from @Francisco Milan: These really do not do much these days for people finding most of the listing online; however, you need to be sure that you put one out because any lead is a lead to put in your database to market to. 

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

Simply put, there are a limited amount of PMs that will operate in the area, so I ended up with poor management.

This is what he put in the description of the quote"We found the sewer line in the left apartment has a cross under slab with a clenaout cap under the slab as well.

If you want to test you're own theory there is no harm in putting up the rooms as separate at a discounted rate and see if you end up with some bites. nothing wrong with throwing the add up and testing it. 

Personally I look at that as the easy side of putting value to a  BRRR or fix and flips.

Let's me put numbers to it: Bought a STR for $400K, 20% down, 8% DSCR loan.

I think you have to find what your strengths are and what your risk tolerance is in different areas of RE and look at your entire financial picture.