These can be a useful product BUT they typically cost more up front then a conventional loan, have a slightly higher rate but most importantly in todays interest environment is that they have pre-payment penalties.

All the best principals you read about on Bigger Pockets work in a low interest rate environment - which we have had for years and years leading up to 2022.  

Home equity line of credits seem kind of risky in the current environment of high interest rates.

This generation wants to save money on utilities, but they also want to do what they can to be more gentle with the environment.

In addition, there is equity pay down, potential cash flow (possibly not in year one in this environment but for a long hold it will cash flow), and tax advantages.https://www.redfin.com/state/Florida/housing-marketI do not believe RE is the best investment for everyone at all times.  

I'd go to the planning office and let them know what you are intending to do and how that meshes with zoning.Since it is in a basement, there are potential egress issues to overcome not to mention water issues and you would be surprised how quickly $50,000 can be used in today's inflationary environment.

Not sure that that's the right environment to invest but make sure you get your numbers right.

So, where the hundred block is, will give you some idea of the environment in the neighborhood. 

It's just about being adaptable to the environment, and as a newbie, having good counsel.

The stock market can be a lot more passive than owning a rental property, so if the numbers aren't great on the deal, investing in stocks or taking advantage of the high rate environment could make more sense.