Most of the homes in my neighborhood are similar to mine and have all been converted to multi family homes.

It is zoned for SR7, a single-family home, but is being sold as a multifamily home since the property was converted into 2- two entrances, 2bed/1bath per unit, separately metered electric.

Added a bedroom, converted half shower to full shower, etc.

Clearly these are just example numbers, but it is how I would look at it.And then layer in if refinishing all the 1 beds is a $100k renovation, but converting into a 4 units is a $150k renovation, now you are spending more money to create less revenue AND have a property worth less at the end of the day.  

Anything under $600 is likely a single home that was converted to a duplex years ago and has a 1 bedroom unit. 

In CHS, the county assessor has a two page form that you complete and file with the assessor's office, similar to applying for the legal residence exemption. 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $55,000

Cash invested: $65,000

Sale price: $140,000

First complete renovation all but reframing--new electrical...

Give someone an inch and they'll take a mile. 

I have a CPA I work with who I’m sure will sort all of it out, just didn’t want to do something if it would cause a huge tax headache later.Do you know if you convert a STR to a LTR after a cost seg, will it cause a large repayment of taxes (I’m doing the cost segs to lower my W2 tax rate).

These will be converted to seller fi deals when I finalize the purchases.