The home is only worth what the market dictates.

So Wall Street might "say" real estate is going to go up, down, or side ways based on their demand for Mortgage Back Securities, and the local economy might dictate by how much.

Now there may be certain stipulations or time periods dictated by state law.Now when you buy a subordinate lien position at auction, the first lien holder has the right to accelerate the note and foreclose on the first lien by the due-on-sale clause because title has transferred.

That will really dictate what you can do. 

You are the person that will make all the decisions that will dictate what the property will do, as long as it’s ethical!

I would assume that you would have been allowed to put 10 structures on 5 acres.Then the actual physical limit would have probably been dictated by your septic as they require a minimum of 2 bedroom capacity per structure even if it’s a small 200 SF tiny house.

Point being, everyone's situation is different and that is most often what dictates the answer to the age old question.

Hey,Ultimately this is going to be dictated by your market and the logistics of the conversion.

Unless you’re a big time builder and can dictate your own terms.It’s just not a great area for investment purposes (right now), except maybe trying to get some of these folks out of their homes (off-market deals) who have camped out there for the past 30 years.

Your rehab cost will be dictated by the condition of your property (deferred maintenance and other capex issues), submarket, neighborhood, tenant expectation/quality, comps and property type (A, B, C or D).