It seems like a profitable plan outside city centers where zoning permits. 

Here are my objectives:OBJECTIVE #1: Do a 150 sq ft addition to one of the existing unitsOBJECTIVE #2: Convert two covered garages into a single ADUProblem: the city zoning allows for a maximum lot coverage of 45%.

If there are no red flags, then I don't see why not? 

@Chase Guelette Renting out both units is not against the law unless it is zoned SF and it does not sound like it is.

If this place checks out and there is nothing you are missing or red flags then I would say go for it and figure out a way to lock it down because very rarely in my career have I seen a place for $150k with $3k in rent coming in where the owner wasn't dealing with a massive amount of BS. 

Get some Red's for me!

Investment Info:Mobile home buy & hold investment in Red Oak.

Hey guys,   investor from Red Deer and always excited to meet others from alberta.

@Adam Snow If you want to add a mobile home, you'll probably need to check with your local zoning department to see what you can and can't do.

Here are the university's expansion plans through 2027 (the red highlighted buildings are new planned construction).