@Kevin ZwiegThe answer is no -converting your traditional to a Roth is not the same as contributing to a Roth as @Dmitriy Fomichenko summarized so elequently.

The numbers worked even for continuing the long-term renters, but our plan was to convert 1-2 1BR units to Airbnbs when leases expired.

You will be happier once you convert the property from a charity to a business and start making an additional $400/month.

So if you were to buy with a hard money or renovation loan, and you buy it right, you could buy and fix up a house with no money out of pocket with the right lender and as long as your purchase, reno costs and reno loan costs are under 70% of the value of the home, you could then refinance into a permanent loan and hold it.There are some smaller local banks that have a rehab to permanent where you can buy the house and renovated it with the construction loan and without "refinancing" the loan converts to a permanent loan after the renovation is complete.

Someone please correct me if this is wrong, but my understanding is that your cost basis is not the price you purchase the home for, but rather the market value of the home at the time you converted it to a rental (and then less any depreciation over those 1.5 years). 

Is is cheaper to replace with a existing gas stove or convert to electric?

It is a house that was converted long ago to a 3 unit.

In fact, the properties on either side of the house are commercial - one a house that was converted to a nursery school some years ago, and on the other side, a former gas station that is now major wireless carrier's cell phone store. 

The problem is that there are no limits on how many short-term rentals a single property owner can operate, he said.In some Arizona cities, Drennon said, “bad actors” are buying and converting entire apartment buildings into Airbnb rentals, effectively creating hotels in residential areas and depleting local supplies of rental housing.By contrast, traditional hotels typically operate in commercial areas that have much higher property tax rates.Many cities around the world — from Paris to New York City and even Airbnb’s home city of San Francisco — have laws that limit short-term rentals to protect the hotel industry and residential neighborhoods.

Big fan of biggerpockets but this is my first post.I recently purchased this house to convert into a duplex and BRRRR.