- Should I invest $40K into converting my parents’ single-family home into a three-family, even though the immediate return might only be a few hundred dollars a month?

Additionally, the limited rental period may not significantly impact the gain, but it’s essential to confirm whether any prorated exclusion applies or if the IRS rules regarding converting a primary residence into a rental property could affect the tax owed.

Hello BP community,I’m currently exploring the possibility of converting a single-family home in Philadelphia, which is zoned RM-1, into a multifamily property.

If property values are stable or increasing, your strategy might be solid.Exit Strategy Since you plan to refinance in 12-18 months, consider what happens if interest rates don't drop or if refinancing terms aren't favorable at that time.Questions you might want to askAre there any zoning or regulatory issues with converting or renting the units as mid-term rentals?

@David Butcher Buying a property in ch 13 means they filed to keep the house while in foreclosure.

That's a good size area so I would continue to market and figure out which way can convert the best.

I converted my STR to a LTR because the climate here in the Springs (and CO in general) is so hostile to short term rentals, and it's getting worse.

Borrowing domestically in your domestic currency and then converting to USD while hedging might be easiest.

Currently, one half is rented to long-term tenants, and I'm considering converting the other half into a short-term rental.

Built in 1890, this Old Victorian was converted into a duplex in the 70's by a talented architect who made some unique and extraordinary custom design choices (read Vaulted Sunlights) that make this property truly one of a kind.