This could be a NNN leased industrial building, or a medium sized apartment building in a A/B class neighborhood with a property manager. 

Your best bet for buying with some equity is either through a reputable wholesaler or good negotiating via the MLS.

I would bet you’ll be lucky to get 100 bucks a door realistically when all the corrections are made and it’s running .

This is adjusted for growth to avoid existing owners getting massively higher tax bills YoY (again, in theory)FL = disclosure state i.e. tax % * price you paidSome other states = limit growth by a certain %Best bet: consult the local tax assessor's office and/or your broker.

Feel free to check out this resources on some different approaches to liability coverage depending on the size of your portfolio.The LLC will allows some separation from your assets and your own name.

Be sure to remember that age and lot size are important too, as well as outbuildings.

Everything I've read and/or researched points me away from this conversion, but I do not think I can legally make it an additional bedroom due to the size and set up. 

But working things out between owner and tenant is best bet I guess.

But if the house was vacant and left in a high humidity condition, all bets are off.If doing it yourself, make sure you use proper PPE and procedures.

A good number will vary based on the current market and the size of your metro area.