This is prime real estate, and is just about the last piece of land in this area.I have begun to develop a commercial property that I own with contractor garages, which is the extent of my experience in this space.I'm trying to get a sense of how to structure something like this, with using LP's, and also partnering with a builder, and carving something out in that regard.Does anyone have recommendations on who is currently working in this space and could provide some insight?

To me, it seems given the right area it could make sense.

Hope all of that makes sense but post more if you would like. 

Again, it makes no sense. 

Then sale after 2 years or when it makes sense after 2 years.    4.  

What states/cities make the most sense right now? 

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. 

I would like to pull out equity from the homes to build either a house on each or an ADU (they are zoned multi-family) depending what makes the most sense on returns and what is feasible.

. :)Yes, that does all make sense.

The new appraisal just doesn’t make sense, especially when compared to the first one.