This would include adding another bedroom and making it a full 2 bath.

But, I'd like to focus only on value-adding renovations (for rentals of course). 

I sent you an email so I could be added to your group!

I hadn't even heard of an ad section before your mention of it.

Here is my system that I have shared on the forums previously:It all starts with online ads, within which are several pre-screening questions I request be answered in their response to my ad.

It offers flexibility as a landlord to be able to offer more or less rooms as needed, protection to the landlord in that you can hedge with adding LTR or STR to the mix, and simplification to the business as your only dealing with one address.

So I added one of my listings on booking.com and got my first booking coming up this week for 4 nights.

Quote from @Dan Lucchesi: Quote from @John Underwood: Lower price and advertise in more placed.I even get an occasional booking from a perpetual free Craig's List ad. 

Adding the current mortgage and utilities would be roughly $1,350 resulting in a profit of $650/mo.

Adding mass to the walls works wonders—attach Mass Loaded Vinyl (MLV) to the shared wall, then cover it with a layer of 5/8” drywall using Green Glue soundproofing compound for extra noise-blocking power.