The Seller doesn't know much about how protocol/procedures work in the real estate arena and we are trying to avoid using our RE agent to lower cost of purchase so we (my business partners and I) trying to do as much legwork as possible.

An architect should be able to tell you the cost and procedure entail for the conversion.

Also, there may be state regulations as this would be considered a form of submetering, and you need to ensure that you follow the procedures that are outlined for compliance.

Has anyone been through something similar and can provide a bit of insight into the process/procedures?

The best way to serve your client/customer is to provide clear policies and procedures and then stick to them.

Fellow Illinois landlords and property managers,A year ago I rented a home to two individuals who met most but not all of my minimum requirements.  In order to mitigate risk, I asked that they provide 3 months of secu...

Well I want to get started the right way so I started up my LLC and getting all my stuff tagged along for Oregon.I searched for Oregon LLC / LLC Oregon to see if anyone had posted their "start up procedures for getting into real estate in Oregon.I think I might share my start up experience and where I went so I think i'll be making notes and putting together another post so anyone in the future, looking to get into real estate can see my process and what I did and any issues that took place or steps I swapped around.Thanks everyone!

Every state is different in their foreclosure laws and procedures. 

I would recommend having the process from screening to move in laid out in a “Application Procedures” document to give them in the future.

If you can't pull that out, then it may be in a Policy/Procedure document which you will have to make a special request for.2.