He buys small barns and converts them into 2-3 bed cabins.

However, your intent can change and you convert it into your primary residence. 

Converting properties to multi-family is considered extensive rehab and those programs are a little more exclusive than the standard bridge loan programs. 

Nice idea, but if you can convert it to gas/propane, I would do that.

Purchase price: $516,000 Cash invested: $600,000 Converted mixed-use 3 residential and large commercial space into 5 residential units and one mixed-use Building.

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Also, converting the unfinished basement could add a lot of value over time.

As I approach my move out strategy where I will be converting my upper unit into a STR, I often think of guest interaction amongst the two units.

For example, buying a triplex and converting the garage into a four plex and converting it to an Accessory Dwelling Unit.

the note is converted or exchanged for credits?