I have a property with a detached garage that's partially converted that I want to convert to a living space.

And eventually liquidated their properties and began private lending in both realestate and other ventures.And so, they showed me their home.

3) or should iget a pretty run down house where iwould need to rehab alot of it but add value to it, rent it out, and eventually refinance it?

Purchase price: $415,000 Cash invested: $9,000 Single family converted to duplex, airbnb with 2 kitchens What made you interested in investing in this type of deal?

Seems like a good investment if you can convert a property into a duplex. 

Here are the numbers:Location: San Fernando Valley (Los Angeles)2bd/1ba - 850sq ftRemaining balance: 314,000Zillow estimate: 676,400Redfin estimate: 713,749Rent Zestimate (Zillow): 2771 (I feel this is a tad high for such a small house)Cons of the house:Old roof mounted package unit, that eventually will need replacing (made in 1999)Still need to repair 4 sides of fencing repaired/replacedDriveway needs a slurry job1 hour drive from my current house with no trafficLawn needs a redesign (more drought tolerant stuff) - It gets very hot in the valleyPros:Mortgage is only 1760 all inPotential ~900 net/moI already have it...If I did sell it, I would like to buy something closer to where I live, but I also don't want to get dinged with any unnecessary taxes either. 

Background:In February 2020, I bought a 1930s single family home that was converted to a duplex. 

We'd have an appreciating asset, in a desirable neighborhood, that we could eventually fill with tenants and turn it into a cash-flowing asset.

The unit was a SF legally converted into a duplex and currently is heated via Water Boiler with radiators through out both units.

I would also look to convert this property from a 3bd-1ba to a 3bd-2ba.