Unless you are a seasoned real estate investor with professional title searching skills, I wouldn't do this.

I don't really come on this site much anymore.

One month prior to this, their water bill was abnormally high.

I would set up a family trust, if you have a ton of equity maybe you refi the properties into an LLC but if you are locked in with lower rates then I wouldn't touch the ownership piece yet. 

@Andrew Freed can probably help with this.

Could you share some tips on how to find the builders or is there any platform that I can use to reach out to multiple builders to get quote once the architectural drawings are finalized?

And I don't know anyone more tied in to the corporate housing market than Elaine Quiroz.

Use Google Street Scene.

Rather than that, if a loan is called because the property underwent a condo conversion (apartments into condos) or subdivision process without the lenders awareness/approval, would they still be required to offer a preforeclosure period before being able to foreclose, as is the case for lack of payment?

This is a great place to learn and further investigate investing in real estate.