Honestly, with those returns sounds more like a D/F area.

The seller added a legal basement apartment which turns it into a triplex and renoed the garage which he rents out for extra income.

I do remember reading this article by harvard extension school predicting the next the next housing bubble. 2022-2024 I'm ready to capitalize.  

You can do Ad Words or PayPer Click but these can take a lot of money.

It's a great neighborhood and the best school in the county is just down the block, so it's primarily a family neighborhood and I prefer to keep turnover dates on the school schedule.  

I also have a portion I'm wondering if I could dig out and convert to living space, along with adding a walkout egress door.

Hi Jeff - I run a dummy ad for a rental on Craigslist in some of the smaller towns in Dane, Columbia and Green counties, just to see what sort of response I get prior to offering on a property.  

We recently purchased a three-unit rental property.We want to do some renovation work immediately, and plan to conduct more extensive renovations on the property over the coming years.Currently, the water heater and the boiler furnace are located in an improperly ventilated portion of the garden unit.

He went back into the unit on July 4th and set off fireworks outside and inside, had a noisy party, vandalized extensively, got arrested by the police, and made the local news.

If you are supplying the funds, then I would probably try to get added on as a lien holder on the property.