For other expenses, HOA fees if any, supplies (cleaning, TP, papertowels etc) things for kitchen like spices and such.

Property had been flipped with contractor-grade kitchens a few years prior to purchase...so everything was pretty much turnkey, minus a new electric panel needed to add second washer/dryer hook ups in the basement.

You have a short window of Independence where this is socially acceptable before a lady comes into the picture.

I'm no professional appraiser, but these are all 3 bed/2 bath homes built in the same era (1920s) with incredibly similar square footage and lots (1600ft/.33 acres) and same basic amenities (none of us have garages but we all have recently renovated kitchen/bath) Besides the 'hot market' that is happening in our little town, we did also do improvements to the home since purchasing it- including a new roof, gutters, encapsulated crawlspace and landscaping. 

The guys who flipped the home installed a 2nd kitchen so that it could be rented as a 2 BR/2 BA home or two 1 BR/1 BA apartments.

We did foundation repair plus a fully permitted interior remodel including new electrical panel replacement, additional new LED lighting, full new kitchen and bathrooms, new flooring and baseboards, and new paint.

All new grey cabinetry in kitchen and bathrooms, lovely marble look quartz countertops, beautiful back-splash, new stainless steel sink, new dishwasher, range and microwave.

I tried it once with a 5th wheel camper that had 3 beds, kitchen and bathroom. 

The lower part of the walls in the kitchen, living room and hallway have essentially turned dark grey from filth and debris is stuck on them.

And there will be costs to make it ready for sale.If your'e inexperienced and not adding bathrooms or kitchens you will probably lose money on a loft conversion as an increase in value.