But if it has a central boiler, a 20 year old flat roof and original windows, your capex reserves should be much higher. 

Lots of cities frown or flat out disallow multi in single family neighborhood. 

Obviously not everybody is innately hard-wired to do this, and yes, some people flat out need to have their hand held. 

Can I expect to pay the same flat rate ($500) fee for this transaction as I did when I purchased my condo or would it be less?

Does anyone have experience on the process to deconvert a small condo building (3 units) to a 3 flat?

We're looking to rehab a 2-flat and finish the basement. 

Also, type and age of roof will be a huge factor (flat roofs are a killer in FL for ins premiums).All that aside, like the others have said - spend lots of time learning to analyze deals before jumping in.

@Jay Hinrichs, I would pay a flat fee of 4k if that's what it took.

Flat roofs are notoriously expensive to replace and it rains alot in FloridaThere would be more but that's the 2 minute download, I would likely pass unless I think I could talk them down substantially AND have an inspection contingency in the contract.

In the industry we call it flat not level.