I budgeted knowing I was going to have my work cut out for me.

Not sure, if this means hiring multiple people (one for appraisal, one for inspection, one for cost estimates)3.

Renovations would cost around $30,000 but the only things I've done are Plumbing, foundation work, gas line, and new windows.

I am retired and working on career #2 and 2 of 3 of our kids have left for college - our oldest is headed to UConn for her PhD (6 years) and instead of paying to rent, our thoughts are to do a version of a house hack with buying a house/condo and renting out one to two rooms to offset the costs of her rent.

Many cities have implemented CAP's or maximum allowable licensable dwellings used as vacation rentals but some areas allow active STR permits can transfer to new owners upon sale.

They had signed the lease, but I had held off signing until they paid the upfront move-in costs. 

I can understand that low cost housing will appeal appeal to a different tenant profile, but if the product itself is very good won't it also attract the kind of tenant you want more readily?!?

There are also several build-to-rent projects going on with builder financing deals snd some even offering perks like property management (even free for a period) so maintenance costs can be kept lower in the beginning years. 

@Connor GoldenInvesting in mid-term homes means you look at what people need, how much they'll pay, how often it's rented, how much homes cost, and what's trending.

I would like to just cut off the fire damaged part and connect the rest to my home.