Duplex to SFH Conversion

[Trevor Dominique]

Hey BP,

Just wanted to reach out to BP nation and see who here has taken on a duplex to SFH conversion as a flip? I am a relatively young investor at 23 years old, and I have only done 2 flips while also owning 6 rental units. I have identified a duplex listed for $200k. I think I could likely buy this for around $180k, and the ARV as a SFH would likely be in the $380k-420k range. It needs a full gut remodel, but this seems very doable given that I would have around $120-140k to work with as a rehab budget (home is only 1600 sq ft).

This project would be a bigger scope than the two flips I have done, so I am wondering, what are some of the hidden costs and challenges to doing a conversion like this? Zoning, appraisals, pulling permits, etc. 

Thanks!

Trevor