Updated over 7 years ago on . Most recent reply
Convert a Single Family to Multi-Unit
wI have been looking for a 4 Multi-family unit in Montgomery county - Takoma park and and Nort-West DC area for awhile.
My intention is to live in one of the units and rent the remaining. I am using the Mortgage loan from NACA and was qualified for up to 775K. The Multi-units I have seen so far do not cash flow as I wish them to. Therefore, I would like to buy a single family unit and convert it to a Multi-family.
My question is that what should I look for in the type of single family that will satisfy my need. Is it a good idea to convert a single family to a multi-units or buy a multi-units right away?
Your answer is greatly appreciated.