It's also important to be aware of any deed restrictions or covenants that could impact your intended use of the property.A Personal Anecdote:I once assisted a client in Omaha who purchased a Freddie Mac home intending to convert it into a rental property.

This seems like a great opportunity to take abandoned strip malls or motels and convert them to residential.

This includes converting it to a rental property or refinancing into a different kind of loan. 

Additionally, I’m considering converting a garage into a bedroom.If I want to list these properties on Airbnb, I understand I’ll need to obtain the following:• BTR (Business Tax Receipt)• CU (Certificate of Use)For these, I’ll need to undergo a city inspection.

It seems like your ROI is basically the same in each option, but you are taking on a much bigger project to convert a single family to a four-family.So basic calculations, since we don't have a full financial picture, i.e. what does financing of each look like?  

This then creates the opportunity to access that cash flow (converted into principle) via tax free refinances! 

Well it will need to be life changing events like having kids, new job, divorce, taking care family members etc but the rule of thumb is to live there for at least one year then being able to rent it out and converting it into an investment property.

Then refinance it in 12 -24 months to take cash out and convert to a full time investment.The other property I would find a Duplex or 3-4 unit in or around Crystal River and set it up as a STR. 

What am I going to do if a guest uses too much energy... nothingThe goal is to run MTR for a few years and then convert to LTR.

Once the rehab is complete, we use a rate/term refi to convert the construction loan to permanent financing.