Exactly, Frank.Dennis, just asking this with a straight face shows you don't account for risk, hassle, taxes or transaction costs, borrowing costs, partner and seller risk, etc.  

To really cut to the chase, "good debt" is debt that makes you money, and "bad debt" is debt that doesn't (when you buy material things that just sit there).  

I have recently started to analyze deals on paper and use resources that I find to complete my analysis. But then I found my resource for finding rent was likely not so good, and also that I might be calculating RoI w...

However, you may be better off going with a straight up investment.

Anyway, I was working in one of the upstairs bedrooms where I had identified some water damage and so I begin to cut away the paneling under the window and when I pulled it back, HELLO, there was an active yellow jacket nest that was about the size of a Cantaloupe Melon.

They get stinky mildew between the tracks, they get stinky black mildew outside the tracks and frames, they leak and damage the floors, the glass is hard to keep clean and I personally had a friend who slipped in a shower, fell through a glass door, cot cut bad, passed out and bled to death. 

You should check whether this is better or HELOC/HEL or getting a straight investment property loan of $500K. 

My girlfriend and mom seem to think i will be ruining the space if i cut it up.

-Save extra money-Take advantage of low to zero down mortgages-Make use of your retirement plan-Find a roommate-Cut back on non-essentialsWhich one(s) have you implemented?

Cut your losses and move on to greener pastures.