With interest rates at a steady increase, typically investors in Multi units are looking at 8-11% interest on conventional, commercial, and PML options.

I’m going to speak with some builders and see what my options are.  

I hope this extra bit of info helps! 

You have other options:1.

He has three options. 

I'd be happy to meet up and even have some options for development ready to show you (if you're at that point).

You have many  options with that property you have, do not ever assume anything (like not doing the kitchen/bath and going STR).You need to figure out what you are comfortable with and what will make you $$.

Maybe there is an extra bedroom or bathroom lurking there.

What are other options?

If you take these steps you will know realistically your options.