Anyone ever convert a motel to a condo

[Naresh Mistry]

I have a construction savvy investor who wants to purchase a distressed Multi-family, renovate, stabilize the project and then sell for a good return (20% +). Since there are very few in the market (in Florida), he asked me to look into purchasing a distressed motel and then converting to condo (possible combining 2-3 room into one condo (not condo-tel). My first instinct is not practical - location has to be right, cost of modifying low ceiling heights, zoning changes etc. Anyone have experience with this? Is this even feasible from a cost perspective?