Exactly the reason to have an Architect on your team to join in on these conversations ESPECIALLY in existing renovations in older homes.

Sometimes less is more and just taking the step to buy one more might be better than selling your goose that laid the golden egg in the existing successful house.

So far, nothing.The point is that I believe people spend a lot of money, time, and effort protecting themselves against a non-existent threat.

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

got out of flipping to new construction in our market in columbus ohio. licensed general contractor. when interest rates got high single family existing went down by 30% new builds sold at a 6% increase that year which demonstrated the desire and premium that new construction commands. never looking back. total control, rinse and repeat. we can get permits in 28 days. we can buy land cash in 21 days. we can build in 120 days to 140 days and keep moving. super scalable and easy and no risk. we build the same 2-3 Floorplans 

The fact is that these laws exist in many places, including Salt Lake City, Utah; Logan, Utah; Hartford, Connecticut; and Newark, New Jersey.

The only reason to look into franchises that flip houses or do renovations pre-sale is because you have existing business that you could leverage on top of this to add more clientele.

The two existing LTR units (on my family’s property) were built 5–8 years ago at a cost of about $80,000 per unit, so I’m estimating a 20% increase in costs for the new builds.My plan is to use the equity in the land as the down payment for the construction loan, which I expect will make closing costs the primary upfront expense.

Quote from @Andrew Steffens: I am curious what products exist?

Just want to mention that sometimes it works out better to raze an existing property down to like 2 studs and rebuild around it so that it still is classified as a remodel versus a complete new build.