Also, converting the unfinished basement could add a lot of value over time.

Purchase price: $932,500 Cash invested: $450,000 20-unit building converting from LTR to fully furnished MTR/STR.

The layout also has the possibility to convert to a duplex in the future.

Quote from @Jaycee Greene: Financially, I'd only do it if you could convert to a 3x1 AND get at least 50% higher rent.I dont see getting 50% more.

I know that the regulations in Beverly Hills is "friendlier" to landlords than Los Angeles and I'm exploring the option to convert a multifamily apartment into condos. 

I've done a few deals where the bank offered purchase + rehab funding up to 75% ARV, and then it converts automatically to a normal mortgage loan at the end of the rehab. 

Quote from @Salil Surendran: You MUST convert to landlord insurance.

I bought 6 unit property in Wildwood,NJ,
in November 2024, doing rehab now, should be done by May 2025
I am planning to subdivide 6 unit building to 6 separate condos and sell fall 2026, , if there are any experts ...

They told me I have to convert everything back to a single family.

Hi there, if you're open to holding onto the property, converting it into an Airbnb or short-term rental could significantly increase your cash flow, especially with the current demand for rental properties.