Newbie investor Looking for help to analyze a deal. Any comments are greatly appreci

[Atanas Gyulev]

Hello everyone, 

I am looking  to jump in my real-estate journey.  I have zero investment properties yet and  kind of been stuck in analysis stage for the past year . Recently I  came across a property that makes sence to me ,but everyone in my surrounding says its not a good deal ( by the way non of them is professional real-estate investor). Some of their arguments are:

is too expensive (Midian rent in the area is $1600)

it's  too old 

it's  ugly 

it will require a lot of money to convert to 3 units 

it's  in a flud zone 

it will be hard to rent the basement and the unit  in the back yard 

 https://www.zillow.com/homedet...

This is the property in question.  The way I see it. Can easily be converted to 2 -3 units.Those being the main house, another unit in the basement and another one  on top of the garages in the back. Where I struggle is finding  the real rental income in the demand. 

Any advice or opinion will be greatly appreciated. 

Thanks