In one case, we even had the City tell us the 2-story home we were renovating was only noted as a 1-story home in their records.

Weigh these with the time to manage a long distance team and travel to look at properties, check on remodel progress, and property condition after renovation.

The program had a very small sample size as there weren't many participants + as you mentioned, renovation/conversion costs were extremely high for landlords.For your question, an architect would be a great contact.

Consider expanding your search to emerging neighborhoods or suburbs, target niche markets like students or retirees for more stable demand, and renovate units for increased value and potential higher rents.

As in, there are a bunch of calculators and Excel spreadsheets out there that will project or estimate if the deal is a good buy.   

How do you get private lenders/hard money to also pay for the renovations?

I'm also a veteran 100% P&T so i have a steady income and plan on taking advantage of my veterans home loan benefits for this project if possible, especially if there is a construction option. 

It's crucial to conduct thorough market research, analyze potential properties, and evaluate their financial performance, including cash flow, cap rates, and projected returns.I recommend working with a local realtor familiar with the South Florida market to help you navigate the area, identify suitable properties, and provide guidance based on your investment objectives.If you have any further questions or need additional assistance, please feel free to ask.

I have a property ideal for conversion into a triplex with minimal renovation required.

for example, and others will ignore current actual rents in favor of "projected" rents.