Humans are highly influenced by recency bias thus the cash vs equity conversation swings back and forth.

Additionally, in the R-7 and R-8 Zoning Districts, you need a Conditional Use Ordinance from the City Council to authorize the conversion.

Some of the best advice I got that I will forget was this:"SOME OF THE BEST DEALS, ARE THE ONES YOU DON'T GET"Let that sink in for a while...I remember 4117 s Michigan Ave. here in Chicago, it was an awesome 8 unit full gut condo conversation - I loved the deal and still belileve it would have been a great deal, but would have pinched me so thin I am not sure how I would have survived. 

Do you want a tenant to pay on time... do you want them to treat the property good... do you want them to stay for multiple years... than why not have a conversation with them about putting in the 220?

Conversely, if there are more buyers than sellers, prices will rise.Rental Demand: Rents are closely tied to prices.

As though my phone conversation with them had never taken place.5) There was an applicant who signed the lease and was supposed to move in Nov 15th (by now).

there is a reason so few flippers do ground up or garage conversion ADU additions.  

Coming into this conversation a bit late. 

Keep in mind, though, if you just sell outright, you could be looking at capital gains and depreciation recapture, so it’s worth crunching the numbers with a proper tax professional (I’m not one, by the way).What do you think the rest of the community has seen happen to property values since last year, and do you believe it changes the 1031 conversation?

On another note, I had a lengthy conversation with VRBO last night while we both looked at one of my listings and came up some ways to improve it.