Converted House - 7 Doors - First Purchase??
Looking for my first deal and came across a large house conversion that has 7 units in it. Total rents come to $2500.00. After expenses property will cash flow $750 per month. I have had a lot of people tell me to stay away from conversions as they have bad vacancy rates, do not rent as well as traditional duplexes and are a lot more work than traditional duplexes/triplexes ect.... Anybody here have experience with conversions that can share their experiences?