If its in a neighborhood thats medium income and a lot of rentals then its fine, if its in a nicer upper class neighborhood then convert it back to a garage. 

The adjacent property is in limbo right now, with the $14k still owed, and a value of about $27k Not sure there is much I can do about that one.

I live in Franklin and it is 10 minutes to Cool Springs (mall and commercial area with every store imaginable) and you are just 30 minutes from Downtown which is not so much shopping, but great restaurants and a lot of events.

There is generally a floor and a ceiling on price per square foot, in any given area, and $20-30k for a couple hundred more SF might absolutely be right depending on the local market.

I have bought occupied properties, and as long as you give enough notice, I haven't had a problem getting in.  

Forums and a weekly listner to the B.P. 

Very few rentals available in this market, and a very high demand (I also sell real estate, so fortunately I know the market).

My wife and I are on our 3rd homeowner occupied flip house and do the majority of the work ourselves.After 5 years of living in a construction zone, we too are starting to look to complete a cash-out refi on our current house in order to purchase our next house and a rental over the next 6 months.  

I'm a full time Firefighter/EMT, husband, father of two very active and amazing children, and a dedicated family man.

You need a business appraiser (or CPA) and a real estate appraiser for this.2.