Hi John - from what you described, it sounds like you've done your basic homework on real estate (i.e. you understand the BRRRR process, converting spaces to maximize profit, etc.) so I would dive into books that focus on helping you get goal clarity and develop an action plan moving forward.

Property also includes a two car garage with workspace/bench with an additional oil furnace bringing the opportunity for additional rental space.

Additionally, the correct kind of insurance for our set up here is over 2200 a year (will be cheaper if this was not also our primary residence) and we work from home and desperately need better office space.

Between working 60-70 hours a week and spending the rest of my time with two kids under two years old, I’m just not sure how to get started in this space.

Nothing was level, the spacings incorrect, and was never sturdy.

However, since it is a bungalow, the space I could work with is minimal and the cost is high.

The only time I would is if it was negative while I lived there but would become positive after moving out and renting out my space.

The reality is: buying a rundown, unlivable property to BRRRR is more sustainable and immediately profitable than buying a perfectly good unit and hoping that new tenants will pay more for updated living space (may or may not depending on your specific area, but unlikely).

Want to quote it two different ways: rehab of existing space (mostly cosmetic); an addition of a 3rd bedroom and extra bath. 

Top of the line finishes, ample parking and yard space allows for luxurious city living.