In an ideal scenario, it’s possible to complete the process in about three months—especially if the rehab is minor, you have your financing lined up, and the property rents quickly. 

In addition, there are also different rules with regards to Timeline as well as identification that you need to follow if you want 1031 to be possible for you as an investor.

Quote from @River Sava: Hey Carter - With a DSCR loan, refinancing into an LLC is definitely possible, plus these loans don't require a full year of seasoning.

I'm building three ADUs currently in CA and looking at investing out of state, possibly in Macon, when I'm done with this project.

You need to be positive, and just get as many reps on the phone as possible.

This would not necessarily be the case, or the spread could go the other way, though such motive could present one reason for conversion.I am not even sure if rent control gets eliminated through a possible condo conversion in most towns in Hudson County - West New York, for  base condominium rent > $1000, is one exception, it seems valuable to determine the others.

Not saying that those are possibilities but understanding those potential outcome and doing what you can on the front end (screening + clear expectations) to avoid them.  

I have a few reasons for this. 1) We are both self-employed and our income is inconsistent. 2) We don't want to impact our DTI, because we are planning on buying a house hack within the next year or so.We would be open to going up to 6 units for our first property as long as it's within budget.Now that you have some context, is it possible for a rookie to use a DSCR loan on a duplex or triplex?

With that kind of sentiment from the city, the application to build a 6.9 million square foot expansion of the Hoffman Town Center, which is what the lots are all currently zoned for, is highly likely to be approved by the end of the year, possibly pushed to 7.6 million square feet, and will be completed over the next decade.

It's possible to find cheaper options but make sure you evaluate the coverages offered.