I've noticed in my area that houses that have been converted into 2 units tend to sit on the market for much longer and sell for much less than traditional single family houses with similar sqft and finishes. Is this ...

I’m curious where your rents are compared to market rents?

Are they discount compare to in home remodeling or tear down new built?

That means you need to understand how to conduct a Comparative Market Analysis (CMA).

Plus I suspect your valuations are high compared to what your actual net sales price would be if you sold those properties today.

Hey @Jessica Venetis, so there isn't really enough info to help.How does your listing compare to others in the immediate area?

Good design, clean, comparable with market rates, and professional photos.

The due diligence when compared to a single family or small multifamily is much more involved.

There is more leverage / less money down when doing a purchase compared to a refinance.

With this knowledge, it seems as though out-of-state investors are analyzing markets that have great job growth, high appreciation, low unemployment, low taxes, but are still "affordable" compared to standards in more expensive parts of the country.