Reverse condo conversion in Texas

[Carl S.]

Hoping to get some direction on this.

We have a 4-plex under contract, which has actually been through a condo conversion meaning each unit has its own account with the appraisal district. I've seen an few articles which say it is possible but nothing comprehensive. I have pulled the appraisal districts survey and the original lot is still clearly marked. According the appraisal district, each unit is listed as a SFR. I am certain that there shouldn't be any zoning restrictions as the street only has MF building (10, 4-plexes, including us) and they are all listed as MF Residences with a single account per building.

Our reasons for wanting to reverse the conversion is,

1 - Tax value, as condos we'd be paying a premium

2 - Insurance

3 - Mortgage (Cash purchase but we will want to cash-out refi) and as condos we would need 4 loans...

If anyone has been through the process before your input would be greatly appreciated.

Thank you