If the property is fully leased and operating well, like your situation, the numbers might not make sense.A few questions to think about....Deferred maintenance or layout issues: If you already need significant updates, the conversion might be a good opportunity to reconfigure the space.

I’m sorry to hear about the situation you’re in—it sounds incredibly frustrating, especially when communication from the syndicators has been so lacking.

It's very frustrating bc the situation isn't anything I caused.

., then I would still have too wide of responses to be able to anticipate what the real costs might be for my particular situation, property, etc.For reference, my properties are in Class B areas of Milwaukee.

It's been pretty tough to find anything that cash flows lately, so we're going to move ahead despite this after being told it's not an uncommon situation in this particular submarket.We'd like to try and up zone so that it's no longer non-conforming.

Additionally, subdividing could impact your tax situation, so it would be wise to consult with a tax advisor to understand any changes.Overall, both paying off the loan and subdividing could be beneficial moves, but make sure to weigh the short-term costs and consider your long-term goals.

Need to apply to your specific situation.1.  

I am looking for ideas from experienced BRRRR folks on how they would handle such a situation with a tight budget, especially with fall approaching and SOD going dormant.

100% you should chalk this up to a lesson learned and fix your process to make it better in the future.I tend to remind myself that your tenant is in a situation worse than yours. 

I moved in to rental in NJ 7 months ago and I am in a fairly unique situation where my landlord has become a mentor of sorts.