An engineer can help ensure that the conversion meets all current building codes and safety standards for residential living spaces.4. 

A book that is 5 years old may not reflect the current mortgage rate or inflated home price market.

Currently, the property is vacant.

Quote from @Alex Moazeni: I agree with your current process.

Zillow says it may go for $289k +/-My current tenants are using it for business and pay $2,250 a month.

Purchase price: $293,000 Cash invested: $135,000 Bought this single family house, and I am currently in the process of renovating it.

The house currently rents for $1450/month, we have long-term tenants, and we use a management company.

A title report would be necessary to confirm whether or not there is anything preventing a current sale by the owner of record.

We're considering selling the property due to challenges of long-distance management.We're still interested on investing out of state and plan to gradually scale our investments over the next few years, focusing on areas close to Illinois, like Wisconsin or Indiana.Any suggestions on how to approach selling our multifamily property and buying in Wisconsin or Indiana in the current market would be greatly appreciated.

Our town just did a revaluation and got close to 100% but the market constantly changes and prices continue to trend upwards meaning the 100% valuation is likely already not accurate.