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.

Here are my ideas:Build a large portfolio of them and then get a commercial portfolio loan from a small local bank (A bank we deal with California wants $1mil minimum portfolio size, not sure what minimum Indiana banks would have). 

I had really strong response rates with postcards, but the deal size (wholesaling) was pretty thin.

A multifamily loan is not going to have terms this good , however I’d bet you could get 200$ a door when it’s said and done .

I was also considering building a quad plex as both my parents and I own a lot that is zoned as 0.1 units per acre and its a lot size of 0.7 acres.

Your EM is a bet on yourself to be able to close the deal.