I'm toying with the idea of making a single family home into a duplex...but it is on 0.51 acre lot with an extra 150' X 75' in the back (not including the backyard space)...what can be done back there that might make a few extra bucks?
Depending on where you live and what the regulations are in that state / county, you might want to look into ADUs (Additional Dwelling Units). Depending on your market, those might work great. Think of those as a "mother in law" type of dwelling. You can rent it out on a monthly basis or do airbnb. Again, a lot of it depends on the market you are in and the amount of capital you are willing to deploy. I am only familiar with Southern California markets, if that's the market you are in let me know and let's discuss further.