Converted this low basis/non income property to cash and paid down Storage debt. 

I listened to a podcast where AJ Osborne talked about converting an old K-Mart to self storage.

So I'd convert for sure.

He actually converts containers into offices etc for a large company so I have the crew to get it done, just wondering if it would actually be profitable.

The first 10 years are I/O at a fixed rate, then that same rate converts over to a 30yr fixed.

I’m also a convert (via the advice of my mortgage lender who has 60 doors himself) from the 15 yr to 30 yr.

If you are set on being separate, then Id say look into converting it into a condo/twindominium. 

This home is all being converted to 2 floor units making UNIT1 the basement/1st floor and UNIT 2 will be 2nd floor/ Attic.

It was extremely challenging to make it happen and included my first offer being accepted then canceled halfway through the process due to unforeseen plumbing issues.Details:Description: Rancher 950 sqft (2bd, 1ba - potential for another bd or another ba by converting closed in porch to sqft)Location: Near Forest view heightsPurchase Price: $90,000Negotiation: Reverse foreclosure; no negotiation possibleFunding: Fannie Mae Homestyle Renovation Loan through Prime LendingClosing costs: $6,000Additional funding: Reno financing through loan $10,000 (HVAC, plumbing, electrical)Currently all-in at $106,000 and living in the house as my primary residenceLeft to do:Determine ARV (150-200k depending on additional renovations)Get a better handle on potential rentsDetermine additional repair budget (15-35k) depending on ARV target and potential rentsComplete, at minimum, a utility room addition, bath and kitchen remodel and porch conversionBig thanks to @Stephen Glover, @Shera Gregory, and Fixer Upper Coach Pete DeWorken and many others for their advice already in this process.

I had an inspection for the home. the public record shows that it's a three-bedroom two-bath because they converted the garage into an additional bedroom and bathroom.