This defers capital gains and depreciation recapture taxes on the sale of your fourplex.After converting it into your primary residence, you may qualify for the primary residence capital gains exclusion ($250K single/$500K married), but only for appreciation after the conversion; gains from the rental period remain taxable.

What has been the conversion of those leads to signed opportunities?

I’m new to BP and looking forward to connecting and contributing to the conversation.

Quote from @Kornelius Friske: We have a STR located in peoria AZ. it's 6 beds (garage conversion) and about 3900 sq ft in total. our energy bill last month was $450 and has been hovering in the $350-$450 range since we went live in august.

My starting questions so far are* If zoning allows multi-family, would I need any zoning approvals for a conversion?

I think new builds don't really work from an ROI standpoint, but if you can find properties that have easy ADU conversions then the value might be there.I'm in MA and we just made ADUs legal by right, so I'm looking into the best ways to add value using them.

Quote from @Austin Ralls: Good evening BP Community, Can anyone shine some light on the rules and regulations on striking conversations with local pros and acquiring more PML to help fund deals? 

I recently had a conversation with a Russian-speaking realtor from Ohio and wanted to share some insights:Competition among investors is very strong.

Once you do this conversion you can't change it back to a traditional long-term rental. 

There were lease violations disrespecting the other neighbor's leased space and harassing the other neighbor and they smoked in the property against lease, lied about conversations, has made up stories about plumbing issues that plumbers couldn't find causes to, tried to get a dehumidifier and force me to pay, accused me on two different occasions very agressively in regards to the heat/electric service.