Does anyone have any experience with buying single family and converting it into multifamily? I am looking to buy a duplex but they always seem to be overpriced. Financing is higher for duplexes as well whether it is a your primary residence or an investment property. Does any one think this a viable strategy to get the benefits of multifamily along with the low rates of single family?
I am not fond of converted SFR, they never seem to flow well. However, in high density areas they may rent just fine. I'd question that duplexes have more expensive financing- it may be that you haven't talked to the right bank/credit union yet. They qualify as small multi, and many banks will lump them in with SFR. Good luck!