My wife does not work with investors only home owners. 

Since this is BP lets go with separate dwelling units (AKA condo conversion) where the owner does not have to live in the house.

We are currently searching for land and boy can I tell you I feel like the FBI with what I'm having to do to find land and contact these owners lol!

Someone gets injured in the basement your home owners insurance probably will not cover it and the liability would be pushed back on you.Would suggest discuss the finish with a Licensed Contractor, Licensed Expeditor and maybe a zoning attorney in regards to adding a unit to current zoned two unit converting to a 3 unit.Also, when buying a two unit and converting it to a 3 Unit, read your documents with out knowledge of the conversion the bank holding your mortgage could call your mortgage.Let me know if you have any questions.RegardsJoe Scorese

Surveys are my area of expertise ;)Ultimately, I tend to agree with you that allowing pets, with specific guidelines and screening criteria for good pet owners, will often yield greater occupancy thus allowing you to increase rates.

I tried to owner finance it, but I didn’t have any takers. 

Profitability can also be enhanced on a sale (sometimes) if we choose to provide owner financing or wrap financing.  

My background is in healthcare administration and revenue cycle management  but the past year I have telling myself, I want more from myself which is when I decided to learn and participate in REI.

trying to decide how much to do at this very moment.

The owner is an old family friend and he wanted me to take over the property.