I have been inside the apartment several times to pick up rent and to fix a bathroom fan and a jammed window on another occasion and every time the apartment smells there is a sink full of dirty dishes old food laying around and just overall dirty...

I was hoping to rehab the kitchen and bathroom for 15-17k. 

For example, if the stairs to the attic are too steep or narrow, they'll need to be ripped out...that's major structural work...thousands and thousands of dollars.And for what?

The garage already has a small, but complete galley kitchen and a full bathroom. 

I would also like to make it known I would do some work myself ( bathrooms, some flooring, trim, hardware ect....) so there would also be some savings in the labor.

We currently have a 15-year mortgage from Wells Fargo on this 3-bedroom, 2-bathroom SFR in downtown Raleigh. 

We currently have a 15-year mortgage from Wells Fargo on this 3-bedroom, 2-bathroom SFR in downtown Raleigh.

A fairly new decent 4 bedroom 3 bathroom house was sold for only $35,000. (2426 Gilbert Dr SW, Atlanta, GA 30331).

There would be common kitchen/eating area, a couple full size bathrooms, and a larger social space, These are examples of creative value adds but not ones appropriate for you. 

Here are my numbers I tried to link to my direct excel sheet last post but it wasn't working so I'm just going to copy and paste.Property Type: Single Family 4 bed 3 Bathroom     Mortgage Calculation Property Price $ 180,000.00     Loan Amount $ 173,700.00 Down Payment of 3.5% $ 6,300.00     Interest Rate5%Loan $ 173,700.00     Loan Length (years)30Rental Income $ 1,500.00 Cash Flow   Payments per year12  Out of pocket $ 1,172.46   Total number of payments360  Tenants Rent $ 1,500.00   payment per period$932.46 Monthly Expenses Cash On Cash Return   Monthy Payment with Tax$1,497.46 Taxes $ 450.00 Down Payment $ 6,300.00   sum of payments$335,685.30 Insurance $ 115.00 Closing Cost $ 3,000.00   Interest Cost$161,985.30 Electric $ 100.00 Rehab Budget $ 7,000.00     Water $ 70.00 Total Investment $ 16,300.00     Gas $ 50.00       HOA $ -       Lawn $ 25.00       Vacancy $ 100.00       Repairs $ 50.00       Mortgage Insurance $ 115.00       Capx $ 100.00       Mortgage $ 1,497.46       Total Monthly Expenses $ 2,672.46