Also, with conversions, even if the municpality does not require MEP drawings, I highly recomend spending the money to have an engineer prepare them.

Is it worth taking the time and money to get them out, spending the money to prep the house for a new tenant screening a new tenant

I am sure some of that is analysis paralysis but when it's your first, if I lose money on it, will set me back quite a bit on my planned timeline.

Our plan would be to have the seller evict them, take out a short term loan to remodel the first side quickly and live in the 2nd side for a year all the while slowly remodeling the 2nd side as well. 

Would you pay $10,000 for 10 accounts or could you spend $10,000 on advertising and get 10 new accounts?  

No cheap strategy to explore without spending thousands on a cistern tank, deep water well, or trucking water to the property yearly.

I spend 2-300k a year at HD and get 2 checks of 2 and $3000 as a rebate.

The seller needs moving money, there are oftentimes an arrears that has to be paid on the loan, there are oftentimes HOA fees that are due, there are title costs, there are escrow costs, usually there is deferred maintenance, you have to make mortgage payments out of pocket until you get a renter in there, you have to pay utilities and taxes, and you need reserves in case it all doesn't go as planned.3.

So, why is McDonalds still spending billions on advertising?

Your ONLY actual cost is the cash you spend, so spend as little as possible, and spend it wisely.2 - You are a REI not a property collector.