I already have a general game plan set up but am trying to explore all of my opportunities before committing to any specific strategy.

It helps to understand the various neighborhoods and specific properties to determine if they would fit with your specific plans and goals.

Youre in a fantastic spot of being aware of the benefits of real estate and planning ahead for your future.

It's an out of state rental so I got to plan my time. 

They are trying to stop the declining population and have a plan to reverse the trend and get to 100k people but I have my doubts.

I just had a 4 point inspection completed on an investment home in Florida that Im planning to list on MLS.

I am a first time real estate investor looking the following property : https://www.redfin.com/OR/Forest-Grove/2418-Cedar-Cir-97116/...its a pretty large duplex in Forest Grove OR,  the trick is though, its on a lot zoned for a 4 plex so I am lookinginto house hacking, converting into a triplex, then living in one unit while renting out the remaining two unitsThe left garage has been converted to living space, with a living room, half bath, a laundry room with a sink and some counters/cupboards and a bedroom, it is a part of what was an existing 3bd unitIf I were to acquire the asset, I would first attempt to convert that space into its own unit The line items as I see (be in mind, I am totally new to this) would be to >put up dry wall where the door to the rest of the house is,>add a shower to the half bathroom >install a water heater in the adjacent 3bd unit> install a kitchen in the laundry room, (stove , oven , sink, counter space)>add a shower to the half bath Assuming I can convert it to a 3plex, I could at-least cash flow on my investment after I leave My plan would be to put minimum down payment of 3.5% (FHA loan) that way I can have a decent amount of capital free to do the renovationsThe only concern is when I crunch the numbers to get my ROI, I have no idea how much its going to cost to convert the additional living space to a third unitAny experienced investors here know how I can estimate this before I try to make an offer?

If we go through with this, our plan is to flip it and sell.

I'm based in Central Florida and plan to invest in my area about an hour north of Orlando.

IF it's not too terrible (under $15k - $20k), the plan is to rehab and keep it as a rental, and if it's a big project, I'll probably just sell it as-is.