For use to convert a two story SF residence into a four unit residential or mixed use rental structure.

What can you convert it to if there is a higher and better use and what is the cost to convert? 

Hello, thank you for reading and answering this Q.I want to convert my primary SFR to a rental, longterm, selling after aprx 8-10 yearsbought at 280k /owned for 10 yrs.

I do want to be debt free in my personal life and eventually in my business life.

Build relationships and learn about them, see their projects, and eventually you will know who is for real and who is not.

I'm looking in this range, because I have a full time job currently, so I'd rather find properties that are ready to rent right away and to deal with good tenants.My goals are to continue to buy a new property every year and take advantage of the depreciation against my current W2 taxes along with other eventual financial freedom goals.

We sprinklered the building which would have been required anyway, but this allowed us to eliminate the rear egress staircase which eventually became the en suite bath and walk in closet in the master bedroom.

I converted the condo to rental property in January of 2018.

I can likely come within 5% of their income, and withing 5% of what my eventual NOI will be. 

Tax Hit and Save Cash: ~24% tax hit, but have cash for the next downturn, and can purchase more property with less capital, and potentially see greater gains as the market eventually recovers.