Have you thought about finding multi's and converting to condos?

@ Bill Gulley again,I'm hoping I can perfect the deed, convert it into a marketable asset and @ least be done with this leg of the hunt!

What sort of return on the equity are you getting by converting that to a rental.

We converted our FHA primary residence to a rental when we moved for work 2 years later, but it stayed in our names, no transfer to an LLC.

You can look at this as a percentage, or convert it to tell you how long before you have your money paid back to yourself.Hope that helps!

Check to see if this is possible before proceeding.If you cannot convert the building to a condo, then you are looking at either a rent and hold or a resale (possibly to the loft buyer).Because you have a commercial unit, you cannot refi as a residential property.

If you have enough money set aside and can quickly convert the 1st property to an investment loan (higher down payment, higher rate) if it's called, then I would feel more comfortable about going forward with the next property.

Do they know of your plans to convert your old property to a rental?

Hello Community, I need some help in knowing if this lead can be converted to a deal and be wholesaled to another investor.

A SFR market emerges that looks like this: crappy houses that can command a high rental price by packing students in, often in illegal structures, basements, converted garages, trailers, vans, tents, whatever.