Dallas, TX Condo Conversion

[Will Hightower]

Hello everyone. I am looking for advice from someone who has done a condo conversion in TX. I have a 6-unit deal in Dallas that I want to put an offer on, and I am trying to find out more about the condo conversion process. They are currently rented as a traditional multifamily deal, but a well-executed condo conversion would be far more profitable than continuing to rent it. Some of my questions are:

-Cost estimate to actually handle the conversion, not including any construction costs? Including legal, architect, application fees, inspector, etc.

-If the units were built in the last 10 years, and appear to be of high quality, would you expect significant costs to satisfy building code requirements for condos?

-I assume I would need to honor leases that are currently in place, only being able to sell as condos once those leases expire?

Thanks in advance!!