@Sean Peters  I agree with those abovecondo converts can cost far more than one might thinkyou sell these off as inventory and your a dealer and taxed as ordinary income and self employment tax unless you C corp I thinkcontingent liablity of selling attached units as the developer.. this is a real issue and proper insurance is advisable for future litigation for construction defects.So the number really is the 250k  number VS the cash flow and what would you do with 250k  if you use it to spring board your business then I think thats a good move.other wise you can jsut rent it knowing you can condo convert at a time in the future if prices rise and it becomes even more advantageous to sell off.Now check with your accountant but you might be able to condo convert and keep these as rentals put them on schedule C and then sell them off over time.. and get cap gain or preserve 1031 potential.. either way sounds like you have a nice deal

What do you get when you mix a few arrests, drug dealing and unpaid property taxes?

The crowd of people they keep around temporarily fills that emptiness and it becomes like a drug to them to have people around them if only to fill that void - be it true friends, associates or users.  

If the painter had to go to an advanced check place that evening instead of waiting until 9:00 am the next day, there is a problem there such as drugs or alcohol, etc.

Given the complexity of navigating the new laws portals have their hands full adhering with The '40 Act, compliance with 506(c), RIA registration, broker-dealer affiliation for OFAC, AML, Patriot Act, etc.  

I thought it was just an equipped auto repair shop with a Pa Inspection station.Turns out it's also a buy here, pay here dealer.

I moved two drug houses.

So you had every car dealer in the South build new facilities all those Casino's that got build in MS Gulf shores they got the depreciation..

I'll be using the FHA / 203k loan and maybe utilizing the dealer concession. 

I was thinking about hiring armed Security guards 24 hrs, then the property manager warned me it wont work as those security guards will become friends of drug dealers in a few days...