The ARV on small multifamily can be a bit tricky as most appraisers will like to use the comparable approach as to an income/NOI approach typically used by larger (5+) multifamily properties.

For example, places like Illinois and Oklahoma have specific rules requiring a real estate license for certain types of marketing.This specifically for flipping land using Transactional Funding.If you’ve done this before, what states have you found to be friendly toward this approach?

I’ve been seeing some real opportunities coming to the Multi Family Market, but the best deals seem to be moving quietly, before they even hit the market.Curious—what’s your approach this time around?

Challenges?

While there are undeniable challenges—higher interest rates, tighter lending conditions, and market uncertainty—there are also unique opportunities that can make real estate a very prudent choice if approached thoughtfully.

Challenges?

Challenges?

Challenges?

You'd also need to establish a budget, and secure a master insurance policy. i THINK you need to do these things before reaching out to your municipality to have it converted officially with the county or city but they would be the first ask for steps in order.i will add, this would make financing on these units a bit challenging, as in the mortgage world, at least initially, they would be considered "non-warrantable" condos.

Building on existing land helps eliminate the issue of land scarcity, which is a significant challenge due to California’s high real estate prices.