Just trying to use the little money I have saved as efficiently as possible.

from one factory towns were the factory went out of business and towns lost population.. to new markets were jobs are plentiful and expanding.. 

Just curious if anyone has ever bought an old motel and turned it into efficiency apartments or done anything else with them.

Only one gas line, so I cannot add additional furnaces, and quite frankly I believe it cost prohibitive given the rents in the area.My other thought was to do baseboard heaters, I do not know the effectiveness of the heat, and it's my understanding that it's expensive to run for the tenants.At this point in considering putting a high-efficiency furnace with a thermostat that is going at the moment to the unit on the top given that it's the biggest.

Would it be more cost efficient to have window units for each bedroom?

@Adam Adams that's a great reminder and strategy on efficiency!  

Then you can compare with what you get with PM, you'll find conforming is wayyy better. at the very least, you'll have an exit strategy in-place so if you chose to go PM for the purchase, you can efficiently refi out of it as soon as possible and into a long-term, lower rate loan.Hope this helps, sorry for the length! 

I was working in a factory at the time I met Mr.

You can either have the construction all done on site of you can rent a warehouse space somewhere and take a more factory approach to much of the interior construction and simply bring the units on site and fit them in place plus fastening everything together.

I don't know enough about Sleepy eye to know how much business there is in the area, but one factor is the number of transactions, the other is the dollar size of the transactions.