They will also provide guidance on how to handle the conversion and any necessary adjustments.

You're best off continuing what is currently being implemented and then making adjustments once you have a better grasp on the building.

So, those who have been hit with there financing adjusting to triple and quadruple the money cost, slingshotted from life in the green to being deep in the red.

Long story short, I spent about 3 months figuring out how to make half-decent drawings and refining and adjusting them to code.We started work on the basement at the end of May with Minh and by the middle of September the basement was transformed into a luxurious 2/1.That still left a lot of landscaping work, but my wife and I tackled that over the next 3-4 weeks in addition to the furnishing.

I came up with a list of protections, and the syndicators I'm working with are eager to make adjustments to accommodate my requirements.   

On the other property seller adjusted sale price.

Your first Multi with those savings and income are going to be a learning experience  (In a good way) However do not go in with a massive cashflow expectation.Some Realtors/Sellers might sell you on unrealistic potential high rents and will be adjusted to the selling price....so do your own research.Are you planning on living there as well?

Every single beach STR looks identical so just being different can make a huge difference in numbers.  

For a duplex, you'd likely need to double the estimate if the units are identical.

Renovation costs are capitalized and added to the property’s basis, reducing taxable profit (sale price minus adjusted basis and selling expenses).