Condo conversions are bureaucratically intensive and usually not worth it for 4-Plexes. 

If you want the easiest way to go about it, I typically recommend doing 20% down with a positive cash flowing investment deal.

Is this something worth trying?

HH#1 cashflows $100/monthDo that again at year 4 and year 6Avatar 1 now has 2 rentals and 1 house hack (future rental)All in for $75k out of pocket and has 1.2M worth of RE that is appreciation at +/- 4% per yearCashflow= $200/month total for property 1 and 2.

The fines Ive typically seen my clients get are in the $10-$15k range.

@Diane G.You probably already paid it in your closing docs as you typically prepay interest till the end of the month.If you are due any credits the title company will readjust it.

They will be the top 7-8 rankings in a market typically.

Is that an area that is worth investing in from out-of-state.

Then I'd say it's worth keeping.

I have 125k cash and own some land outright worth ~100k.