By renting our current house at $2400 and the new carriage house at $1500, our monthly cash flow increases to $375 and we'd be living in a great house, but no garage (it snows a lot here, current house has a 2-car garage).First of all, I must thank this forum, Mr.

Either way, I was advised by the lender that if the building are side by side there is a possibility to regard them as commercial.The point is, that it is easier to add value by increasing NOI when property is appraised by  it’s income.

Is there room to increase rents? 

This will allow you to study the market and understand what homes sell for in your area.People may potentially not want to recommend their realtor(especially if they are good) because they may think it is increasing their competition in the area. 

Learned that unless you make justify an increase in price, the additional just isn’t worth it.

However, I do see that contractors could get sick of this if they saw no increased business and I had them bid a job a week. 

@Chris Mason - how has the rate increase effected business? 

My thoughts would be just fixing it up will increase the value.

Landscaping can definitely increase ARV, but may make more of a difference when it comes to first impressions of a buyer/renter. 

If an investor isn't game for research, due dil and some increased time/effort, then a self-directed IRA may not be a good fit.