Converting massive single-family home in TX to co-op
The inspiration: here in the Bay area, weirdo structures are a little more common (see: fractional TIC loans, etc). Came across a 12BR that was being rented out as a 'hacker house' charging extremely inflated rents for access to a 'cool community'. A little clever branding + investing in amazing wifi = shocking good rental yield that was normally not possible in an A neighborhood.
My partners & I have come across a huge 6BR home in the DFW area. Our hope is to turn it into a co-op and sells shares - per bedroom it'll be a good deal for individual buyers, plus hopefully a cool community. Will let y'all know how it goes as we learn more about the weird murky world of getting co-ops approved.