$65K is a big chunk for the conversion, don't know if I would've done that.  

As @Marcia Maynard suggests this is hot air, but don't let the conversation turn sour because of it. 

A condo conversion will cost a lot in both time and money, arguably more than rehabbing units.A condo conversion can create issues with your current lender, as you noted.A condo conversion exposes you to a different kind of lending risk. 

There are probably more abandoned, attempted, and then wholesaled half-flips or almost-conversions in Newark than completed ones.

In those cases, I mail a letter outlining our conversation and extending the lease on a MTM basis until a certain date, etc.In the past, I've simply sent out a letter outlining the renewal terms, and whether or not there is an increase or such.

Bought two  from Hubzu.Their title company sucks it will correct their mistakes and there will be mistakes.Email them cannot understand phone conversation 

I continued making conversation with him, he is a disabled vet and wants to move to a bigger house because his mother in law just moved in with them.

Thank you, BP, for having this conversation available for newbies!

I can start using house and property after we have met and start the mental conversion from a home to a commodity then.

but I can recommend this: Be sure to set up some Keyword Alerts for some of the topics you are knowledgeable about, or other topics that interest you (like wholesale, Virginia, Landlord, etc ) so you'll be notified that those words were mentioned in the forums and can jump into those conversations!