Its doubtful that the municipalities involved would sign off on a condo conversion or subdivision, as their aren't many rentals in the area.

At those price points I'm assuming this is a more cash flow area like the rust belt, or other mid west geography.

Most of the surrounding properties are one-story condos in the area, this is a three-story townhouse.

My suggestion to any one that are first time real estate investor in fix & flip, or planning to hold property for rentals, is to learn or read, understand about real estate financing first, build your assets and network or partner withsome has completed some projects in fix & flip and has some rental properties with positive cash flow within your immediate area before dving in to any project by youyrself.

We normally have our area manager Cameron over for lunch at the property he takes such good care of.

You will have to source these properties from a wholesaler, where you will have to put down hard non refundable assignment money at the assignment of the contract, or source them yourself.The steps to follow for a subject 2 property are as follows:1.

My piece of advice would be to research emerging neighborhoods and focus on areas with strong job growth and infrastructure development. 

Thomas area). 

Nonetheless if you can build a 7 plex for $700K (in my area, things are getting built for $200-300 a square foot), it definitely seems like a profitable endeavor. 

Over the past decade, I’ve built and managed purpose-driven homes in CA that serve communities while generating stable, long-term cash flow.In addition to running care homes, I also consult with aspiring care home owners across multiple states, including Texas, Arizona, and Michigan (Detroit area).