I can then rent it for $1,000 as a 1 bedroom.2: I convert the upstairs space and end up with a 3 Bed/2 Bath that will be worth approx $250K and/or rent for $1,500.  

I have a property that I am looking at, it is a converted house now zoned commercial.  

We are just trying to convert the cold call into a warm lead to get into the sales funnel.

We plan to buy another primary residence in about 18 months and convert our current home into a buy and hold rental.I have been told that there can only be 4 FHA backed loans per borrower.

Are we taxed somehow on the conversion of CC points converted to gift cards?

Given the differences in unit specs, this doesn't sound like a typical triplex - is this a SFR which was converted into 3 units? 

If I were to own a home, I'd probably arrange it like: 80% purchase price, and lets say we allow 5% closing cost. 10% can be in a conservative common investment, for example an index fund, easily converted to cash for capex needs, 5% in cash at the bank for quick emergencies.

I have thought about using a converted container that has been adapted for use as a rental space or, possibly a trailer, etc, or even new construction, but I have no idea what kind of cost I would be looking at. 

Convert to over under duplex?

Lastly, you have to get permits from the city to convert an SFR to a duplex.