Autonomous Underwater Vehicles (AUVs) are becoming increasingly important for different types of industrial applications. The generally high cost of (AUVs) restricts the access to them and therefore advances in research and technological development. However, recent advances have led to lower cost commercially available Remotely Operated Vehicles (ROVs), which present a platform that can be enhanced to enable a high degree of autonomy, similar to that of a high-end (AUV). In this article, we present how a low-cost commercial-off-the-shelf (ROV) can be used as a foundation for developing versatile and affordable (AUVs). We introduce the required hardware modifications to obtain a system capable of autonomous operations as well as the necessary software modules. Additionally, we present a set of use cases exhibiting the versatility of the developed platform for intervention and mapping tasks.