On the "bedroom" side of any nearby interstate.  

Expanding from 4 bedrooms/3 bathrooms to 6 bedrooms 3 bathrooms by excavating the basement.

Now, that said, if you can add a bedroom within the existing floor plan or a basement bathroom those are usually very good for higher ARV, rents and refi.

And its only got 2 bedrooms and 1300 sq ft whereas 3 bedrooms from 1300 to 1600 sq ft tends to be the sweet spot for families.I'd knock it down to 1650 to get down to where quite a few sfh's with 3 bedrooms are listed at out there and eat the 200/mo.   

Purchase price: $40,000 Cash invested: $16,000 Conveniently out of the flood plains, this welcoming 3-bedroom home is features a huge master bedroom, refinished hardwood floors, spacious living and dining rooms, and a stunning kitchen!

Five bedroom, three baths, and yes the comps support this.

If you buy an outdated smaller 2bd/1ba home for $150,000 in an area where remodeled 3bd/2ba homes are selling for $300,000, and you know it will cost $50,000 to update the home and add an extra bedroom and bathroom, you can be relatively sure you will be able to recoup your investment. 

Details2,819 SF, single family residence, 4 bedroom, 3 bath house, with a poolThe house is in a very desirable location.Market Value - $950,000Mortgage Balance - $226,137 (10 years left)Martgage Payment - $2,250/moInterest Rate – 3.5% Average Rental comps - $4,430/mo (looking at the comps I think it is above average)It certainly looks like it would cash flow, but that leaves buying a new house with a small downpayment and high interest rate.

If not, what is the sq.ft. of each unit and how many bedrooms in each?  

Long story short, I have a 3 bedroom 2 bath single family house in the Virgin Islands.