The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

Here's some online software options that you commonly see recommended on BiggerPockets.

This is a straightforward and common approach.However, make sure to document the change in the lease renewal or addendum, specifying the new security deposit amount.

It seems like a common challenge, and any advice you can provide would be invaluable.Thank you in advance for your help!

They have a good set of advertisements that focus on their whole house strategy which is good IMHO.We are running about 50/50 on bookings for 2025 right now.

You also need a leasing agent, unless you are going to advertise and screen tenants yourself.

I haven't personally dealt with any crazy insurance premiums such as the ones people have been advertising in like Tampa, FL.

DSCR Loan (10% Down Possible)Debt-Service Coverage Ratio (DSCR) loans are based on the rental income, not your personal income.Some lenders allow 10% down, though 15-20% is more common.6.

hey guys, I've been talking to a potential PM for my townhouse and he sent me his PM agreement for review.There are a few things in the agreement I didn't like, but I'm not sure if these are common practice or true RED flags.Would love to hear your thoughts...

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.