The interior walls are framed with 2x3 lumber and the existing door slab is 78" tall.

The interior walls are framed with 2x3 lumber and the existing door slab is 78" tall.

Another option is to convince the seller to that they should negotiate a buyout of the existing lease and you then could obtain the property on month-to-month terms.

I have a 7 unit apartment complex that has a vacant 450 sq ft space between two existing units that I intend to convert into storage as a way to better serve tenants and force appreciation thru increased NOI.

What kind of process is it to convert an existing 8 unit multi family project to section 8 affordable housing?

I've been floored by the prospect of a 203K / Homestyle loan, but have yet to crack the code on how I could make it cash flow for me with only 3.5%-5% down (in the Bay Area at least....)After speaking on the phone with a loan broker, I was told that you could go as far as building an entire property with a 203k loan as long as there is an existing foundation.

(They do exist.)

I do realize that many have made decent money at the very low end of the market, but that takes quite a strong stomach, and I believe also was a function of particular market conditions which aren't likely to exist again any time soon (IE these properties got absolutely crushed in the downturn of a decade ago and were picked up for a song.

@Juan Alvarez get your prequalified letter first, you can get this from your existing bank who you bank with or just find a mortgage broker.

So for me at least, in my market it was a matter of saturation - I had plenty of investors that wanted good deal and not as many good deal.