I am looking at a 5 unit building that I want to do a condo conversion on. 4 units would be vacant 1 has a rent controlled tenant in there who does not want to move.

Has anyone here been successful in permitting a conversion?

I would suggest having a conversation to understand why they made the decisions they made.

However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.

Hi All,Newbie here, just a quick question we are building an addition on our second home, we have a primary residence, and two rental properties. We are trying to not use our retirement funds. Are there any strategies...

When you have things that you do not know how bad they are until you open up pandora's box, it is hard to perfectly predict the cost.I'd be happy to have a more in-depth conversation if interested. 

Personally I think there are great opportunities in Dover, Somersworth and Rochester. 

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

Quote from @Mohsin Ali: Hi all, I'm joining this conversation late. 

DM me for more focused conversation:)