@Andrew Evans how far into the red are you?

It's a 1200 square foot Bungalow in the northern suburbs of Detroit. 

Learn to make adjustments for square footage and features for maximum accuracy, (that's what appraisers do).

Back to square one for me, and really need some assistance.  

I have placed several dozen tenants in my career as a property investor here in the Chicago burbs, and the only problem tenants I have placed came with red flags.

It needs some work, I calculated roughly $10,000. 2 bed1.5 bath1032 square feetOn the market 15 daysThis is located 4 miles from ski resort and 10 miles from a big mountain lake.

Our house is ~3300 square feet, finished basement that we aren't renting.

You're back at square one. 

Unfortunately during my due diligence phase, I learned the maximum square footage allowed on this lot is 2400 sqft (including the garage). 7900 square foot lot, 30% max or 2400 sqft, whichever is greater.

@Jace Holt There are a couple red flags here .