My specific questions are:1.

Just remember to research specific areas, consider market conditions, and factor in costs like property taxes and insurance.

So, that’s legal and definitely qualifies as a good, cash flowing unit. 

Since there is no lease, does anyone foresee legal issues with removal? 

If you have specific questions or topics you'd like to discuss, feel free to share, and I'm here to help!

I can't speak to a short term rental in these areas but I do have a few specific areas worth mentioning.New England is a popular destination for skiing.

I would also look at flood zones specifically in and around the Houston area.One of the biggest factors to look at, as mentioned above, is what the houses cost in the neighborhood compared to what they are renting for.

The market I am in is Beaver County, specifically Ambridge, and again I am new and do not know the market well and maybe homes are being bought for more than they're worth but from what I've seen I don't think so.I have been going back and forth with this for a while and I should've posted sooner but any insight would be awesome.

OROption 2: Go big and do a cash-out refi/203K/HELOC to not only repair the foundation and waterproofing, but to add an extension to the home that would support a legal duplex for some income producing property.

Unless you have a very specific reason to do this - no.