The taxes are high there but rental inventory is low so I was able to ask for a healthy amount for rent.  

It sound like there are likely to be some additional expense in conversion of this basement into a third unit, however the additional income may in time offset these as well as the deduction of capital improvements (this is for a pro/CPA to determine what adds value, etc). 

Hello everyone this is Arlin and Skarleth, hope everything is well with you all We are new real estate investors, we will love to network with new and professional real estate investors to obtain and learn our pathways to success in this business, we have experience on real estate state as we have our own home Improvement business and have been working with many Real estate investors and we love what we do, that’s why we have decided to take the necessary steps to grow more in this business We will really appreciate any advice and share experience with allThanks in advance 

The shortage of inventory is causing prices to rise, the shortage of lumber and other build materials is causing build costs to rise, and inflation has become a large downhill snow ball. 

Make some improvement for comfort of tenants which added value to the high rent.Completely redid second floor unit into an open concept, new kitchen and fresh paint.

While living here I am making a handful of major improvements on the house which will help increase rental value (capital expenses, like new appliances and flooring) as well as small repairs that were already needed when moving in. 

I know there are tons of wholesalers and fix n flippers but I have no understanding as to how much inventory there is.Any help would be much appreciatedThank you

Our biggest issue that a lot of markets are seeing right now is low inventory.

Seller raised rents to this amount as he made improvements mentioned in original post.

The inventory for SFH is also not much right now.