The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

Lenders will want to know if the property is generating income and if it qualifies for a DSCR loan or traditional financing.

Hey Andrew, for a 12-unit property, traditional lenders like Fannie and Freddie could be great options, especially if it's stabilized with a strong upside.

.- Short-Term Rentals in Non-Traditional Markets: Secondary markets like Florence, Alabama, are ideal for short-term rentals.

;) Hi Janet, Are you a hard money lender or a traditional lender?

What do you mean by "traditional 6-month financing route"?

Alternatively, a private or hard money loan could provide faster funding if traditional lending timelines don’t work, with the option to refinance once the build is complete.

Look, if wanna sling mud go for it, I have no doubt we simple humans have made mistakes and have not pleased 100% of people 100% of time.

We are BRRRRing it and we’re originally going to rent traditionally, however we decided to look into it as an Airbnb, and when we put in current loan rates which will be near or at 7% when we are ready, we’d only cash flow about $150 a month 😱, but as an Airbnb our projections are around $1,300 cash in our pockets monthly. 💰 At this point is a no brainer 🧠 and we know if it doesn’t work out or we don’t like doing it we can always revert to a traditional rental. 

So, winters are the traditional slow times for sales & rentals.