So are there any specific pros/cons to home style vs choice renovation?

We owe what have achieved so far to the careful research we conducted on the properties location as well as the network we had developed and have since expanded.

With the right team in place, the sky is the limit for those looking to build wealth and achieve financial freedom through multifamily real estate.

My overall goal is to become a multibillionaire, with a B, through REI, achieve financial freedom and create generational wealth for my future family.

The $50k cash flow by itself does not provide the full picture.If you are making $50k cash flow on a highly leveraged property, you should definitely repeat the process and hope to achieve similar results.  

The city even had a little handout for garage conversion, pertaining to achieving the proper R value for an in place slab. 

I have short term (12-24 month), 5 year, 10 year, and 15 year projection models...sometimes I'll mess around with longer term (20+ years) projection models, but it's pretty difficult to project that far into the future, because there are so many unknown factors--so, the longer the projection model is, the less I tend to believe in its feasibility...My projection models allow me to make more informed decisions about things like: whether to buy or sell a particular property, whether to refi a property, whether to rehab a property, whether to pursue or abandon a particular revenue stream, how to approach rent increases, how to manage risks, what debt to pay down first, whether a particular goal is worth the amount of hours I'll need to work to achieve the goal, what my goals should be, how to achieve various goals as efficiently as possible, etc., etc.A good projection model will show you not only how to reach various goals, but it can show you all sorts of potential roadblocks that could prevent you from reaching goals (as well as potential solutions to those problems).

Does this number require you to sell more to achieve a split which is more favorable to you vs them?

Speaking as a lender (not investor) with some experience in small balance commercial lending, I can tell you that it is likely going to be tough to find financing most likely as a lot of commercial lenders tend to stay away from churches, although could be more favorable if the building is true retail/office rather than a structure built specifically in the style of a traditional church (i.e. hard to transition to other tenants if needed)

I just finished a medium style rehab and worked with a great GC.