How to Make the Most of an Old Family Property

This post applies to anyone of the following: 

1. Someone who owns more than one property 
2. Someone who inherited a property and doesn't need the space
3. Someone who owns a property they are no longer using maybe because of its condition 

Here are the suggestions in order of appearance:

1. Make minor updates and rent out the space
2. Make a total renovation and sell for top dollar 
3. Make minor updates and resell, using the funds as follows below
(#3 is actually the best option in my opinion) 

Strategy 1:  Make minor updates and rent out the space

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