Hi Shyam Sridharan I would recommend to get a contractor to make all the changes.

Now, you need to figure out how to find deals and pay for them.

I'm interested to know if anybody is currently unloading their portfolios of SFR as our multi family?

Quote from @Evan Malburg: Hey BP Community, I'm new to investing, but not new to real estate.

Hi Emily, great to meet you!

Could you bear to help me one more time and explain if this is a legal move?

While it seems like there are some better priced deals lately, you may have to be prepared to put down 30-40% down.I'd say due to the lack of homes for sale, you should be open to many if not most cities depending on the deal that comes up. 

Long term Appreciation is likely to happen.  

or build to rent development as a strategy?

If they gift it to you it's tax-free (as long as they're under the lifetime gift limit around 14 million) they may have to file a gift return though, but there won't be tax due.