Rehab into 2 family or condo conversion

[Justin Repp]

I am analyzing a potential deal where I can flip a 2 family in Massachusetts.  I am trying to decide what the better move is--flipping and keeping it as a 2 family or doing a condo conversion.  I think that the condo conversion has a better upside and will fetch more $ in the end.  My question is, what stops me from doing the condo conversion and listing the property as BOTH a 2 family investment property AND 2 separate condo's?   Ultimately the underlying concern or question is if a condo is created, does it need to be used/sold as such?  

Also, what are the costs to consider when doing condo conversions?  I am not looking for $ amounts, but rather specific concerns to be focused on.  The only variable that I can think of that would be different then just rehabbing as a standard 2 family is the associated attorney fees for creating the condo docs (master deed, etc).  

[JP Krueger]

Ah.. the best kind of conversion.  I offered the rear unrenovated unit to my tenant at the avg price per sqft foot for the neighborhood and he wants to buy it.. So that settles my internal debate.  If I need a lawyer for the conversion I will let you know.