Aside from sales charge and attorney fee,  seller’s closing costs in this area are: title search (800) survey (400) transfer deed ($9 per $1,000 of sale or $4 per 1,000 depending on County/exemption status).

i just feel like there is more to the commercial side with reviewing all the leases, property disclosures, surveys, inspections and so on that i might miss something for my fist couple deals of this size. 

Essentially, in order to convert a multi into a condo building you need to record a condo declaration and get a plat of survey of the building/units/parking spaces, among many other nuances.

After each closing, we do a post  closing survey to see how we did and how the individuals we recommend did. 

Your lender will also require an environmental survey. 

When you refinance, the closing costs related to the property (survey, stamps, inspections,etc) are not necessarily all going to be part of you closing for the refinance while you will still have your loan origination fees and others which will happen anytime you take a loan.

Some ideas from others: * Bank loans are not available on some types of properties * The tight lending climate has made bank financing "out of reach" for many * Seller financing is an "age old" tradition based on private property rights * These rules would prohibit even partial seller financing – i.e. a "seller second" * According to HUD's "Residential Finance Survey" in 2001, roughly 40% of all non-farm residential properties in the US are owned free and clear * An estimated 6 million Americans own a property other than their own primary residence * An estimated 4.5% of Americans own three or more properties, many purchased solely as investment properties * 40% of non-owner occupied residences are mobile homes which are more difficult to sell with bank financing * Approximately 5% of homes in US are for sale or for lease… seller financing may be key to liquidating this inventoryThe continued success of our industry as we know it is threatened by these proposed regulatory changes.

After that, you will need to spend money on the inspections, surveys, environmental, etc.Financials - Review of the financials can be tricky, particularly if the current owner has not kept the books correctly.

The chart below show the change in cap rates for Salt Lake city proper over the past decadeAll data is from the American Community Survey Cap rates are computed by taking the annual median rent, applying the 50% rule and dividing by the median home value. 

The best bet is to get all of the info together a developer will want to see like all the entitlements including any surveys, site plans, building plans, permits and approvals etc.