My wife sells them and does the interior designs etc.

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

For projects with 150 or fewer units, the city has 60 days for eligibility review and 90 days for final approval, including design review.

However, it’s also a requirement for properties with lower-level units that could be vulnerable to flooding, even if those properties are not located in a designated flood zone."

First step is to hire a designer. 

Exterior looks somewhat aged. 

Creative Freedom: You get to design and transform spaces, which can be personally fulfilling.The Bad: Where Flippers Lose Money⚠️ Underestimating Repair Costs: Surprise structural issues, contractor delays, and material price spikes can kill your budget.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

Typically people making the designation a private lender is someone you know and have a relationship with and will privately lend you the money.

They apparently help you screen for a property, acquire a corporate lease, and design the airbnb rental.

A garage conversion, however, may not be subject to the same level of scrutiny.Parking Considerations – Parking is becoming increasingly valuable, especially with the rise of high-density micro-units that often lack designated parking.