Affordable turn-key multi-family properties do not exist, so very much open to the idea of a rehab/value-add to build instant equity. 

They usually have regulations on the # of dwellings per acre and I’d hate for you to spend money designing bringing utilities to the site only to be in a city council meeting where the local neighbors shut down the proposed development. 

The house is paid off, and I'm trying to see what my best option is to do with it.I would like to do a full gut renovation on all 3 apartments, but I would like to be able to see if it's possible to convert the cellar to be a legal apartment and get a CO that states "multi-dwelling" instead of "2-family".Does anyone have any experience with this?

The appreciation is definitely a big aspect of it, its surrounded by moderate density projects that have just been rezoned and its in a zoning node.I also believe I got it below market value enough that I could resell it and make a profit instantly, so that played a part in the investment for me

It has two separate dwellings on one lot.

To me, this is more about false expectations than it is any Airbnb failing.I still scratch my head when I hear people talk about Airbnb failing them simply because they didn't instantly start clearing $1,000/mo.  

We could potentially subdivide the lot into four lots and build a main house, a Junior Accessory Dwelling Unit (JADU), and an Accessory Dwelling Unit (ADU) on each lot.

On your Keyword Alert Settings, users have the option to be notified instant, daily, or weekly. 

Someone will point out that the 2-4 unit have a better track record of appreciation these past few years, but as mentioned I suspect that's largely being driven by the residential DSCR loans, the same way that being able to get a $200k student loan for an associates degree in basket weaving will drive up the cost of basket weaving education to $200k (and if the loans for the $200k basket weaving degrees went away, the price of a basket weaving degree would instantly drop, true or false?).

Accessory Dwelling Unit (ADU) that we lease to a long-term tenant on a month-to-month basis for $2,850 per month (inclusive of all utilities), and a 300 sqft.