Ok guys and gals, I've got an ambitious project in mind. Here is the plan: Convert current 4 bedroom 2 bathroom house in sought after location into 4 separate self contained 'units'. Unit 1: 1 Bed, ensuite, Kitchen, Lounge, Seperate entry Currently: Master bedroom with ensuite + Lounge room adjacent Reno: Lounge will have kitchen added and access to back 3 bedrooms blocked Entry through current front door Outcome: Self contained 1 bedroom,1 bathroom, 1 kitchen, Lounge Potential Rent: $320 per week Unit 2: 2 bedroom + 1 bathroom + Kitchen + Lounge + Separate entry Currently: Garage Reno: Complete conversion Potential Rent: $350 Unit 3: 3 Bedroom + 1 Kitchen + 1 Bathroom + Lounge + Laundry (Potentially convert to shared laundry) Currently: As is Reno: Block entry to front master bedroom and create separate entry via backyard side gate. Potential Rent: $400 per week Unit 4: 2 Bedroom + 1 Bathroom + Kitchen + Lounge Granny flat Potential Rent: $320 per week Overall: Cost for entire project will be around $40,000 (excluding granny flat which will likely add another $60,000 for a 2 bedroom, so overall looking at $100,000 max for entire project) Rental return should be $1,390 per week (excluding bills as these will be included) Further information: Location is Outter Western suburbs of Melbourne, 2 minutes drive to almost everything Council require pretty basic information for building permit so long as I omit the kitchen or bathroom portion of the garage conversion, hence preventing trigger of planning permit requirement Plumbing quote has come up around $7500 surprisingly lower than expected For kitchen, Cooktop+Oven will be electric For hot water, portable plug in units will be used* (Still exploring the feasibility of this) General carpentry work fairly straightforward according to a few carpentry quotes Awaiting some electrical quotes This is all an idea at this stage but for the investment amount and the potential return are attractive. Has anybody done anything like this before? What are some things I need to consider?