Here is a breakdown: Queen bed frame: $400 - $700 High-quality mattress: $500 - $9,000 Pillows (2-4 per bed): $40 - $120 Linens (sheets, duvet, comforter): $150 - $300 Blanket: $50 - $75 1 Bedside tables: $40 - $150 1 Lamps/lighting: $40 - $75 Art decor (2 pieces): $100 - $275 Bathroom towel racks, dispensers and soap racks: $100 - $200 Makeup mirror: $20 - $80 Hair dryer: $20 - $60 5x7 rug: $75 - $250 Small vase with plant: $20 - $50 3-ft decorative tree: $50 - $150 Two window curtains (with rods): $80 - $150 55-inch TV: $375 - $500Total cost per bedroom will range from $2,320 - $3,545 

I’m also curious if it's possible to convert these units into regular apartments, as this property is located in the NY suburbs.

This is an excellent place to get started in CHS if you aren't already attending. 

Is it only applicable if I then try to rent out a basement that has been converted?  

Additionally, the owner is considering design plans to convert part of the upstairs into three apartments, adding further value and flexibility.I’d love to hear your thoughts.

I converted to long-term, have a lot less to deal with, and I'm only making about $2,000 less a year. 

In my experience, the 2 inch blinds last longer, look way better and are worth the extra $$.

There is an unfinished basement which will likely be permitted to convert into an ADU but might trigger the installation of a fire sprinkler system ($30k).

Purchase price: $1,150,000 Cash invested: $300,000 Sale price: $1,628,000 Built in 1890, this Old Victorian was converted into a duplex in the 70's by a talented architect who made some unique and extraordinary custom design choices (read vaulted skylights) that made this property truly one of a kind.

If you look at the PadSplit website, they put up walls and convert the living room and dining room into more bedrooms, to fit even more people and get those high incomes.