If you're in the LA area, it's definitely very common.

I recommend people only sell if (a) you can invest the capital in something that performs better, or (b) it aligns with your goals.

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. 

If so you need to fall into the guidelines (for the investor whos funding it) regarding non arms length transactions.The most common scenarios they typically prohibit are:- Gifts of Equity- Bailouts- Leaseback OptionsAt the end of the day it needs to be a legitimate transaction, with legitimate funds coming into close.

I’ve specialized in working with real estate investors for many years, and I’d love to hear more about your goals.

Let's see how it goes when the one year anniversary comes.But in general what you are seeing is very common.

It's pretty common practice to have something like that in a property management agreement, and if it falls under that limit they're going to pay it and not notify the owner except in regular monthly updates because it is below the threshold of what is an ordinary expense in the course of business.

No matter where you settle upon, your idea to build really comes down to your goals.

That's of course the goal.

HUGE goals!