Gals and Gents,I have read a lot in the past BP articles and listened to many BP podcasts, it's a pleasure becoming part of the crowd.Let me introduce myself, I am active in the NYC market, I buy a lot of class C properties rehab / convert, rent them out, I have done rinse and repeat many many projects and I am seeing nice returns, not always fully recoup my full investment but I am generally finishing all in at around a 9 or 10 cap!

If you don't then you might want to just coast or even convert your equity into even more passive investments like syndications or partnering with investors who want to put in the work but need capital partners (like me!).  

We would like to convert to a rental home and qualify for a 1031 exchange and invest in a rental property in Colorado. 

Would convert to flex building.

i can't remember.a big flip is just a very risky way to get started... a house hack or a live in flip are lower risk (not no risk, but lower risk.)miscellaneous reactions-you don't buy a flip with a DSCR loan - if you converted it to a BRRRR, you would refi into a DSCR loan. 

I currently have a 2 bed/1 bath (although could easily be converted to a 3 bed) house for sale in TN about five miles from Damascus, VA.

The value of the property will definitely be more valuable if you convert it into a legal duplex, but you must also consider the area of the property.

So we will convert our side into a long term rental.

Im planning to buy an SFH or townhome and convert it from 2 to 3 bedroom for a forced appreciation.

Purchase price: $180,000 Cash invested: $5,000 Bought it as a primary residence, moved out of it after a few years, and converted it to a rental property.