I think it’s worth noting that when you mention a city, a lot of us get hit with a “keyword” notification and the way BP has gotten often that turns into “selling” you our market(s).

@Michael PlaksThe guest from the podcast I mentioned above transitions her "doctor" clients from STR to MTR at the turn of the new year, right after they purchased/converted to STR the previous year right before the year ended.

Ultimately I just couldn't get numbers I felt comfortable with, especially with pricing/rates and in 2022...As mentioned above, I think it's a great area.

Our contractor mentioned that there's a possibility of adding an extra 1/2 a bathroom to the upstairs floor, turning the property into a 3br 1.5btr.When we asked our agent his thoughts, he mentioned this wouldn't increase the ARV of the property much as we're already maximizing the ARV in the area.Would love to hear from fellow investors in the area what your thoughts are here, not only from an ARV perspective but also by how much could it potentially increase the rent value.Thank you so much! 

Oy, I have to remember to measure the interior sill height, from the pictures it looks like less than 2' probably 23" lolDid I mention I'm considering installing a 30" deck under the window to make it less than 20'.But I would still have to deal with the other side. 

Hi Nina.I would also add, in addition to what you mentioned, a few others.Property Management knowledge is one which is different than knowledge of the local market. 

As Michael Gessner mentioned you need to have a title search done on these tax sale properties before you buy them. 

This does require owner occupancy of both units for at least a year for condo application submission, but also assumes a number of other things including that nothing was performed with respect to prior historical tenancies that would disqualify you from a condo conversion.While the aforementioned would be ideal, it would be all for naught if Planning determines that if at any one time the ground floor was rented in the past.

If you think you will need 100k just pull out 100k because like you mentioned you will end up paying more fees to do this 2X.

My real estate agent, who has a long prior career history in construction, seems to be happy with both the properties and has inspected them in detail and also been under the crawl space noting new plumbing, electrical and foundation sister-in-law beams too.As mentioned it is looking very likely the current buyer will not meet the closing deadline at which point I am next in line and have got price agreed with the back up after a few phone calls today.