BRRRRing a house conversion

[James Fisher]

In my market, a college town, there are quite a few old Victorians that were converted to multi-family. 

Has anyone here had any experience purchasing and reconfiguring a home like this using the BRRRR method?

For instance, I know of one that is in foreclosure and will likely be auctioned off within the next few months.  It is zoned multi-family, but is in very poor condition and has not been lived in for several years.  Assuming the property doesn't have compliance issues with the city for some reason and maintains its multi-family compliance, I've considered purchasing it.

I think it is possible to reconfigure it from having 3 units with 6 total bedrooms to 3 units with 9 bedrooms, as bedroom count is king in my location. I'm just wondering if there is something I'm missing or not thinking of with my plan of bringing units on one at a time. Likely the top floor first, then middle, then lower level.  I'm starting at the top so as to disturb the tenants as little as possible when I work.