You can build a permanent structure that fit the square footage and live in it or rent it.

I just bill my tenant for their usage (Eyedro gives me a monthly report).For gas, we just divide the monthly bill based on the suite's square footage.

If you add enough usable square footage to a property in one of Seattle's "A" neighborhoods the returns on flips can easily be in the multi six figures and with people paying $1,300.00/month or more for a studio apartment that can go on Air BNB for $200/night with an 80% occupancy rate, adding units can really pay off.

Local square footage costs can be calculated using the conversion chart applicable to each area.ANALYZING REAL ESTATE INVESTMENTThe methods to analyze real estate investments depend on the availability of information.

Square footage, separate bathrooms, kitchenette, seperate utilities, home separation/ divider walls etc all come into play when finding the right house hack. 

@Andy Bondhus , First, you have to carve out the value of the land from your 300k. and then you allocate the basis based on any reasonable method ( square footage). 

Should you put the square footage in the ad?

I am curious as I often run across listing on the MLS that have incorrect information about square footage, bedrooms, bathrooms, etc..

Looks like you did a great job.Your ad seems to indicate only 2 BR/1Bath; you might clarify and include the square footage especially if it is larger than the photo might indicate.

Simple fix and flip or are you interested in added square footage?