Connect with local investors and experts for a house-hacking strategy and ensure proper permits for rental properties.Good luck!

Any additional permits?

@Erich HatchFirst, I look at permit history.

It sounds like you can not for any purpose since the conversion is not permitted.

I have started soil tests on 12 lots costing me a total of $5340 for the permits.

Perhaps they would make more money if STR was an option, however if that's not permitted in their location, no STR demand exists, or no STR PM is willing to take on their property, they may not have that option.

I know certain areas where I live are limiting those types of permits, etc.

That's a spreadsheet that doesn't transfer to a real life leasing scenario because its not permitted within the zoning code.If the property is zoned RM1, then  perhaps you can lease to 8 unrelated individuals by converting the building into multiple units.

A key step is also meeting with the City and/or all entities who are involved in permitting. 

Costs like engineering and permitting can become disproportionately high for mid-size projects.Height and Density: Focus on areas where zoning allows for verticality and density.