Conversion SFH to 2/3family - Too expensive to work?

[Chris Killoran]

I’m new to BP and real estate from an investor point, but the research phase is over and I’m looking to jump into the game! We have found a number of homes that seem to have potential for great cash flow after a conversion from single family to multi family, they are in the proper zone to do so and some of them have even been converted illegally already. Is this going to be too expensive when all is said and done - I know the c of o can take a while(we are in Hudson Valley, NY), but if the numbers work is this feasible? We are planning to Brrrr, and we have the cash to float the project while we wait. What am I missing, where am I going to lose my shorts?