In particular, I'd like to convert the walk-in attic or the basement into a fourth bedroom.

I'm trying to estimate what my monthly mortgage payment would be if I put 10k down on a 55k condo.

I had recently met somebody who said they were looking for a 4 or 5 bedroom house on a contract for deed in Midtown area MNPLS and that they had 10k to put down.

I am managing a condo in Santa Ana, CA.

Can I sell them as easily as a condo or a townhome?

2 rooms of carpet were totally ruined and had to be replaced, there was dirt and cobwebs in all of the bedrooms, windows had been left open and rainwater allowed to come in and stain the walls, hundreds of gouges and anchors left in the walls, oven dirty, floor and wall behind stove and refrigerator had a half inch of dust, dirt and food, etc, etc, etc.So, needless to say, I've had to spend a considerable amount of time and money getting the place back into rentable condition.

@Joel - I am looking at condos or townhomes in possibly a high rise (or a solid brick building).

I own a condo that I intend to rent out.

My tenant has 2 kids and a grandchild in a three bedroom house.

A lot will depend on the location and thus your market. 7 bedrooms in an upscale neighborhood, particularly if it has at least 3-4 bedrooms is money in the bank, sold or rented.