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Updated over 3 years ago on . Most recent reply

Convert SFH fix & flip to multi family? New investor blue collar





BP team-
A deal on a SFH in Florence, SC to fix and flip has hit my desk (can expect $15k+ in profit), however I am trying to determine if I can convert this to a duplex or multifamily. The SFH is 3bd x 1.5ba, 1425sqft on a .34 acre lot. As this is my first flip, I have questions on navigating this deal and welcome any other considerations (finance, estimating costs, permitting/zoning, etc.). This is vacant and was damaged during a flood with large front and backyards.
1) should I approach this as a typical SFH rehab, but multiple the estimate by # additional units?
2) is a duplex the most feasible/viable or is a multi family rental a good option?
3) what are the key things I must considering in estimating costs and selecting contractors?
4) are there any unforeseen implications on financing and permitting or zoning (electrical lines run through the front yard)?
thank you!