The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

I'm excited to join this group of like-minded individuals passionate about real estate investing. 

As a true south philly guy the neighborhood identities are different and bias may be at play but if you start looking into comps you would be surprised.

You have a far better chance trying to sell to an individual than targeting hedge funds.

Though I would caution you on hard money lending until you understand the industry a bit better, that can be very rewarding but you have to be able to do your due diligence on deals because you're turning over your hard-earned money to an individuals project, often a flip. 

Now, in 2024, we're seeing $4,000 per month just on the main unit and $1,800 on the other unit of the duplex.Long story short, it's a long term play.

This duplex will most simulate TWO INDIVIDUAL HOUSES.  

Most (not all) HELOCs require that the property is titled to an individual (not LLC) and are full doc, meaning your employment history, income, DTI etc will be factors.

Is this ultimately a land play? 

We currently accept rent from tenants using a variety of 3rd party apps-Cashapp, Venmo, Zelle but are moving away from accepting payments in our individual names and want to start accepting payments directly to the LLC/business accounts, but LLC accounts do not accept Zelle and there is a fee for using business accounts on Venmo.