in order for a basement to count as square footage it has to "conform" and there has to be an egress window from my understanding. otherwise its nonconforming and not safe to occupy.

Since nothing's really missing, it's probably not worth the effort or the deductible.Make repairs and ensure the home is safe.

If you want to use un-levered return as a metric for comparison in your given zip code I'd suggest developing your own.

I am currently renting it out on AirBnB and it is getting me $2,000 a month (safe estimate at 14 days occupancy in a month, although current rate is 18days).My question is i want to do some more reno work at my primary residence approximated at $60,000.

You might want to take a look at the strategy used by Cameron Realty/Ocean City Development out of Boston.

I believe @Scott Meyers has a development educational program.

You can also look at city plans online and talk to those who know where development is scheduled to happen over the next few years in order to put yourself in the path of progress. 3.

You'll want to see the property before you buy (and the neighborhood) and to see how it looks at nighttime as well (see if it is still safe, not too loud, etc.). 

This conversation helps each party get to know the other.The more investors you take on (with lower offering minimums), the larger your operation becomes in terms of development, compliance, and customer service.

Philadelphia has seen an insane amount of development and growth.