I will be building out my back of house and adding a laundry room addition on the back of the house. 

Another thing near the top of his list is adding value by raising the rents or making improvements interior or exterior.I would also research the local area rents and raise them when the lease is up or if their is a clause that says you can do that with the proper notice. 

Write down everything you don't get and google it4.

I wouldn't  purchase any property in a D neighborhood so make sure you do good research on the area before you commit.

I I am looking a general contractor to remodel my basement adding a kitchen, washer and Dryer hook ups and add a walk out door so I can rent out my basement.

The only reason this is coming up as questionable decision at all is the fact that I have to continue living there for now and need to ask myself if the added income is worth the possible added aggrevation from the neighborhood.

I'm adding it right now!

That's actually how I first found BP was from a webinar ad.

Older 2 bedroom with a bedroom added on, 1 bath. 

Once you figure that out, consider how adding any sort of appliances will impact the size of each unit.