Bought at an incredible deal of 200K for a 1,722 SF Condominiums, 3 minutes from Dell Computer's headquarters, in North East Austin, Texas.

sounds like you need an attorney to deal with the landlord and condominium association.  

For instance, you may be able to build 35 units per acre, but does that take into account parking requirements, water retention, market demand (the community may not want condominiums or townhomes), how much will it cost to build all of the municipal requirements and at what price will it sell. 

They usually want something that “fits” the area, even though I might personally think it is corny or passé.Vacation experience preferences vary greatly from person to person, so a condo owner in the Smokies is going to be focusing on vacationers who are either ambivalent about their acccommodation type, or have a preference to condominiums. 

-Townhome/condominium sales rose 7.6 percent with the average price up 12.6 percent to $247,846 and the median price up 23.0 percent to $219,000;-Single-family home rentals fell 3.4 percent with the average rent up 9.7 percent to $2,092; -Townhome/condominium leases fell 1.3 percent with the average rent up 7.3 percent to $1,712.

We currently live in one unit of a 3 unit condominium of a fast appreciating area. 

Plans are in place to convert one-quarter of the property into public parking for the barbershop, with the remainder potentially being developed as residential space along the lines of townhomes or condominiums over the next 18 to 24 months. _________________________________________________________________________________________________- An opening date is tentatively set for sometime between the next six to eight weeks, pending ongoing city ordinance approvals required during buildout. _________________________________________________________________________________________________- P.S.

The study also showed a need for 18 to 28 large condominiums or for-sale apartments per year over the same period.

@Nat ChanIf you can’t split the properties you can look into creating a condominium.

The seller is an elder couple that have multiple units within the condominium, but are looking to start an exist strategy as they are travelling too much to self-manage and want the extra cash.