She also mentioned that if I do the conversion I may be able to put the two small lots attached to the back of my duplex lot to use because I might be able to bypass some restrictions.

It also has a va loan attached to it.

But also, you inherit the responsibility of having that work permitted once you purchase the property - and permitting a bathroom isn't cheap (I recently built a permitted 2nd bathroom as an owner/builder in my house).Having been on the losing end of purchasing a property with a significant amount of unpermitted work attached to it, I would probably just walk away - it's not worth the headache, both emotionally and financially.However, if you are still intent on purchasing the property, regardless, then once you are under contract, use your right to inspection to have a city/county inspector walk through the property with you and have all the unpermitted work cited before you lose your deposit.

@Michael Plante A “justifiable way” to determine values would be percentages of value on the county Propeety Appraiser site  land and mobile home, assuming the mobile home is “attached” to the land.

I have a property I'm looking at that has a SFH attached (but separate) to a warehouse.

Real property consists of land, buildings or other inherently permanent structures.Examples of Personal Property (contained in or attached to a structure/building)Interior LandscapingNeon or Other SignsDisplay Racks, Shelves or CabinetsWall CoveringsWindow TreatmentsCertain Air-conditioning EquipmentDecorative and Specific Business Activity Light FixturesCarpetingDecorative Trim & MillworkMachinery, Generators & Kitchen EquipmentAccordion Doors and PartitionsExamples of Real PropertyLand (non-depreciable)Buildings (27.5 or 39 year depreciation)Exterior Landscaping (15 year depreciation)Paved Parking Areas (15 year depreciation)Swimming Pools (15 year depreciation)Fences (15 year depreciation)Bridges (15 year depreciation)Side-walks (15 year depreciation)Docks (15 year depreciation)After the tax reform, the structural value of a building is depreciated over 27.5 to 39 years and the tangible portion of a building is allowed to be expensed immediately in the year the assets were placed into service by the business.

As far a career, think a skilled trades degree, a pay check is attached when you graduate with a 2 year community collage degree.

Oops, forgot to attach the pic.

Hopefully in university you're studying a skilled trade, engineering or a skilled based degree with an actual job attached to it.

Anything you expect should be in your lease. i.e. tenants can't attach anything to the building w/o written permission is a violation of the lease. 2.