Sounds like you have a great start in real estate!

@Robert YeganehNot sure why you got in to what sounds like a volitile market?

Sounds like you are doing all the work and they are purely financially invested.  

If you say stuff like “they don’t need to make a killing” that to me just sounds like jealousy.

I’ve been sitting back reading this site for a while and see that several of us (especially on the West Coast) are in the same boat.We’re inspired to pursue Rich Dad’s dream and started by reading books, researching online and reading / listening to Bigger PocketsWe probably have some money, but not the kind that goes very far in Southern CaliforniaWe curious about investing out-of-state but may not know which market to choose or who to trustWe feel a bit overwhelmed about the different options and can’t pinpoint where to startA lot of that sounds like me too!  

That doesn't sound super great, but the townhome has a basement with a large greatroom that has the potential to be converted into another bedroom and bathroom for one more tenant. 

Sounds like you'll have a nice chunk of equity from this first project. 

For example: an appraiser will not take into consideration googles announcement, only sale comps and competing properties.Often times the correct answer is a mix of both inputs.All that said $200k sounds low and I don’t think anybody here would recommend taking any action before at least getting an appraisal.

It sounds like it would just be a hassle but is it worth it?

I know I sound like an insurance agent, probably because I am one.