Sell as 2 family or condo conversion

[JP Krueger]

Hi, I own a 2 family in East Boston.  It pretty much needs to be gutted on the inside(except one unit was recently partially redone) and needs everything on the exterior as well.  I need the cash so I am looking into either skipping the headache and selling as a 2 family or making it really pretty and selling as 2 condos. There is additional framing and electric in the basement that could be turned into a bonus room, bed room or if I was really trying to open up a can of worms, a 3rd unit.  The problem is I cant even come up with ballpark numbers because there are so many variables, but I will give it a shot.

Sell as is: $700k

Condo conversion: 2 units for total of 1.1M to 1.3M

Expenses: 200k-300k for attorney fees and all repairs

Opportunity cost(carrying mortgage and delaying debt paydown/investing): 150k

Condo conversion profit: $650K To $950k

What am I missing? What would you do?