Pretty soon you'll own it all to yourself.P.S. start the conversation off with who's going to pay for all of the expenses for this property. 

I certainly think if you were going to do a condo the East Side would be the place to do it.I'm leery of recent condo conversions in other parts of the city, especially conversions of 2- and 3-families, as that's something that tends to happen at the top of a market.

Conversion making building into 7 Residential Units and 4 Commerical units.

That being said, I'm still in the process of developing the details of my financing...I'm currently having conversations with lenders and still have to approach my potential investors, so that could change.

Once I mention I want the HELOC for a rental property, the conversation is pretty much over. 

Open a conversation from there and tell them about what you're working on. 

There's income tax due when you do the conversion (assuming your 401(k) is pre-tax).

If you are financing in Cali I would call @Chris Mason  I have had a lot of conversations with him and the guy knows his stuff.

I understand that this would be a taxable event and I would be required to pay taxes for this conversion.

I've had multiple conversations with plumbers, engineers, the sewer company and the county.