The downstairs would need at least 3 walls torn out to make it 700 square foot studio that will hold 4 poles. My feeling was that even if I was willing to put in $25,000 or so to do the job, I simply don't have time to hire for and supervise the job. My agent suggested we offer the seller an extra $10,000 on top of his asking price and then ask him to do it for me. I said that sounded reasonable to me and so we're going to meet tomorrow to write up an offer. It's not a done deal of course. Even if they accept my offer, I still have to have the home inspected.
The house in back is nothing more than a garage converted into a good size studio apartment. It is in sad shape, including a wall that somehow got water in it. The agent thinks I can fix it for about $6,000 and rent it out for about $650 per month.
Ironically, this place is only one block south of the $3,000 work/live space I'm about to close the deal on. When I told him about it (he knows I'm working with a leasing agent) he asked to see it. So we used his real estate agent key to get in and I got another look. The good news; the ceilings are only vaulted on one side of the top floor. The other side can hold my 6 foot tall book case. The REALLY bad news; we measured the dance studio. It will be the world's tiniest pole dance studio ever. It's probably only 40 square feet larger than my current one. Considering that all my competitors have much bigger studios, I'm going to really have to sell myself on the quality of my classes rather than the size of the studio. How does that saying go? It's not the size, it's what you do with it. Here's hoping it's true.