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).

@Tayvion Payton to get a better understanding of the loan products, it's best to have a conversation with a commercial loan officer at a local community bank or credit union.On commercial, the number one rule is a deal meeting their DSCR loan covenant, which is typically 1.2 to 1.25. 

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?

I always start out with a process of responding back by phone or email and getting a quick conversation to let them know my process.

I look at foreclosures.comOut of the 3 stages I am definitely not ready for an auctionpreclosure / short sales:- I need to research how to take over a deed / title- need to prepare how to do door knocking (I have a sales background and feel confident in dealing with an emotional conversation about someone’s home) - there IS a window of like 4 weeks that I need to prepare for (have my finances in order) to then bid before it goes to auction?

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

So, I DON'T trust my ability to determine someone's character based on a few minute casual conversation and I DO trust my ability to manage even difficult tenants. 

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?

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