Section 8 to Market Rate Conversion

[Eric Adler]

Hello Everyone!

Looking for experts (or referrals to low income/section 8 experts) for a deal:

Have a 50-100 unit portfolio of properties under contract in Florida.  Looking to convert 64 of the 68 units from Section 8 / Low Income to market rate short term and long term residential rentals.  

Has anyone here done this before?  The numbers on the deal look amazing (even with $4M worth of renovation - this is in a high growth/up and coming neighborhood) but I just want to make sure that I don't pick up the portfolio and then find out that I can't legally convert the units from Section until 2050!!!