So there will have to be some friendliness/cooperation between the tenants upstairs and downstairs.The whole house needs to be fixed up, but in general the house has good bones and the garage conversion was pretty well done.I see a lot of benefits from splitting into 2 units as opposed to renting the whole house out.  

Sellers are just looking for prices that we just don't see enough meat on the bone.

It is in decent condition and has good bones but it's priced similar to properties that need a gut reno or are tear downs.

Home is block and has good bones and more sq feet than most 2/2 due to the addition of a bonus room. 

You'll find the best spread on properties that already have good bones and layouts, but are really ugly or dated cosmetically. 

I love the older houses because the structure and ‘bones’ are typically much better than newer propertirs.

There seems to be enough meat on the bone to cover for most mistakes you will run into.

@Minuit SpenceIf I were in your situation I think I’d try to first cut down expenses Dave Ramsey style bare bones only the essentials even can the Netflix and anything else you don’t really need.

Another option since you seem to have a deal with a lot of meat on the bone would be to wholesale this and double close. 

I have a commercial property which has a old house with good bones and a large lot adjacent to my building.