You have a few options to fill the gaps in that knowledge.1. team up with a great contractor, who you can trust to not only do great work at a good price, but to teach you as they go.2. attain this knowledge yourself, reading, getting multiple bids and comparing (always a good idea, even for #1 above) - @J Scott's book on Estimating rehabs is incredible, and goes in detail on basement to roof and everything inbetween!

If the quote is $70k, expect $140k to finish the project.

The downstairs unit will require some construction, so we likely would wait until major repairs are finished before renting out the upper anyway.

The were rentals before and remained rentals with me.We have another house that We just finished a renovation on.

Very attainable goal.

Be patient and remember that your partners are also interested in getting to the finish line just like you.

added almost 50% more living space (finished the basement) as well as a 2nd bathroom, drywall repair and all new paint, new high quality flooring through out.

Yes, there is new construction in both, here are the 2019 numbers:Franklin: 21 new singe family homes from $416k to 595k built in 2019 - the lower price points typically just include rough grade, so you still have to pay for topsoil, finish grade, lawn, driveway, patio and front walk way - setting you behind another 50k at least.Oak Creek: 5 new single family homes from 359k to 517k built in year 2019.

I just finished rereading Never Split the Difference a few days ago.

Live in the 2br and need to do some more reno to make the studio something I'd be comfortable renting out.According to comps and our real estate agent, we have a minimum of $100k (def. more just being conservative) in equity and want to use that to really finish the studio the way we want (for Airbnb) and look to invest in another property.The issues we're bumping into is a cashout refi hasn't worked because lenders haven't been able to even get close to our interest rate (understandable) but also there are very few lenders willing to lend in the second position to an outside loan...That's the short story If anyone has any ideas we're all earsThanks