HI I purchased a home in a multi unit (R4), high density zone.I am currently renting the house cash flow is just $50 after mortgage payment.This house has a big workshop in the back with a high rise ceiling, brand new roof, electricity and water.It sets in a half an acre lot so I am able to rent the workshop and land for $700 a month Total cash flow on this property is $750 a monthI'd like to enclosed this workshop (it has 3 brick walls already built) and make it into a livable place.I can still rent the land and keep the cash flow at about the same amount ($700).However there's no sewer  at this house just 2 septic tanks attached to the main house.Workshop will need:windowsanother walldoorscooling and heating systemBathroom etc...I can build build more units attached to the current workshop since there's so much land to play with but i have no idea of the cost.I purchased this home for $150k in 2016I owe 143Klast month I paid for an appraisal and the current value is at $185(flooring was the only improvement at the house).Question is should I refinance and bring in sewer line, build more units or live it the way it is?

I have American Home Shield, and when my tenants HVAC unit went out, I only had to pay a service fee of $75 for the whole unit to be replaced.

Find an architecture student who needs money and can generate as built floor plans for you for probably $250. 3D for maybe $400 for a 2k sq ft house.

Any suggestion on what service to use?

I've since paid of my mortgage and have no slavery inducing loans to service.

What would be a fair price to pay for his services?

The common saying you get what you pay for definitely justifies higher rent as my focus is to differentiate the properties with quality and customer service. 

Service charge if property is located in building with multiple owners (150-350 € p.a.)Also, depending of the nature of your contract you eventually are liable for stamp duty (10 % of one month rent, upon signature of the contract).In overall very dry deal.

I know it will need the front yard rehabbed and paint inside, maybe replace carpets or wood flooring.

Secondly, you will almost always get more bang (read: bigger rent increase) when you upgrade amenities (say new cabinets or flooring) between tenants.That said, in my books there are exceptions for long-term tenants.