Follow Ryan Dossey on youtube, he shows how he uses propstream and dealmachine to pull lists, market them w/ direct mail and use an effective website to convert them.

But really...I'll probably just convert it to corporate housing at the threshold of whatever legal limitation they impose.  

The window must have a net clear openable area of 5.7 square feet (5.0 square feet if ground floor), a minimum openable height of 24 inches, a minimum openable width of 20 inches, and the bottom of the opening must be within 44 inches of the floor.Size: The room must be at least 70 square feet, and no less than 7 feet in any horizontal dimension.Lighting & Ventilation: A natural light source (window) of not less than 8% of the floor area and natural ventilation (openable window/door) of at least 4% of the floor area are required.Heating: The bedroom must have heating capable of maintaining a minimum room temperature of 68°F.Smoke Detector: A smoke detector is required in each sleeping room.While a closet is expected in most bedrooms, the International Residential Code does not actually require a bedroom to have a closet.

I am not sure who you are using as your Realtor but I would reach out to a Anthony Wong who specializes in investment rentals or buyig the right primary that can be converted to a rental that will cash flow.

As an update though, we did move ahead and were able to secure a 1X close construction loan that automatically converts to a 30-year fixed rate. 

It goes a lot faster and is more precise.As soon as you brush-apply a cut line, run a miniroller within half an inch of the wall and eliminate all but the absolutely necessary brush strokes. 

The outstanding balance after 5 years (60 payments) will be approximately $364,814.The buyer would need to pay this amount at the end of the 5-year term, typically through refinancing or other financial arrangements.Using the Promissory Note for Financing in Florida:The promissory note valued at $400,000 from the sale can be used as collateral.Assuming you can get a loan of 75% of the note's value, you could potentially access $300,000 to assist in purchasing your new home in Florida.This detailed scenario underscores the potential benefits of seller financing, such as generating additional cash flow and converting equity into liquid capital for reinvestment.

Can you convert a metes and bounds to a lot and block?

I would like to then convert it into a commercial condo.

Converting it to a rental projected to rent @ $4500 monthly.