- Are there any unforeseen challenges or surprises you faced during your conversion process?

I am in Orange County, CA and also looking for good real estate attorneys who understand land trust and LLC. who can protect me from any unforeseen circumstances?

Insurance is also critical to protect your investment from unforeseen events such as natural disasters or damage caused by tenants.

BUT, introduce unforeseen and the math changes right?

Barring an unforeseen catastrophic change in the way our economy works, you acquire skills that can produce income your entire life.

Lastly, should the unforeseen event that you need to terminate this person, having the housing and pay tied together will only complicate potential legal issues.

After many ups and downs, I learned to always stick by THE NUMBERS because even with my delays and unforeseen issues, I was able to build equity in this deal because I was constrictive in my after-repair value you and built-in overage on my rehab /holding cost.

It may be priced too high, but we have spent too much on the renovations and would like to not lose money (There were unforeseen structural issues which added to the price). 

Immediately build a reserve fund to cover unforeseen issues.

This will increase the cost over a standard residential multi-family parcel.I would say for even an advanced investor, it would be a highly ambitious project with many unforeseen, expensive pitfalls.