Commercial property conversion to multi-family

[Robert McAllister]

Hi,

An idea popped in my head regarding the coming (and current) housing crisis... What if it would be feasible to purchase a vacant commercial building and convert it to a multi-family/apartment/condo. Yeah, it may take quite a bit of capital and time, would it be worth it? What potential challenges would exist on a broad spectrum?  Zoning petitions, architectural challenges, contractors, etc. 

Thank you for your reply in advance.

[Todd Goedeke]

@Marshall Adams there is big difference converting commercial building in big city like Savannah vs Small town of 40,000 , Stevens Point WI. In Small towns where land is plentiful there is no demand to live in a converted warehouse.