Renovation ideas and suggestion

It won't be legal height, so anything you do downstairs will never be called "bedrooms". That doesn't mean you cannot tidy it up, remove the distracting finishes, paint it and use it for living in. But anything you spend downstairs needs to be cheap as you won't benefit too much.

Floors would need polishing, say $3K (maybe more).
Kitchen could be painted - $500
Bathroom is fine for a low value rental
Tilt door needs repair or replacement - $1k?
Yard needs tidy up - $500 if you pay someone for a couple of days
Walls (most of them) appear to be asbestos, so just paint them - DIY $1k for the paint and your time
Roof could be asbestos too - no need to replace, but maybe paint it to keep it tidy

That would get it into a "rentable" position.

 

Absolutely agree (as long as it is done without expectation it will ever be valued as "living" rooms).

I have some similar photos tucked away for use in a place we hold that isn't legal height under but generally is used by tenants as a second living space. It needs to be made more attractive and paint is so cheap and easy and the dodgy ceiling disappears - if painted a very dark colour.