To finish out a walk out basement or not?

[Mario Martini]

Hello, 

I would love some advice and opinions on a Duplex I just bought.  The Duplex is in the Parkridge area of Knoxville and is currently two 1/1 on the main level, with a stair case down to the basement that used to be a two car garage. I want to Brrrr this property, so i'm looking to hold it as a rental, and cash out refi as much as possible. 

Would you rehab the two 1/1 and fix up the garage, or would you finish out the basement and add 2/1 down there for one of the units? 

Thanks