Managing risks is key - you need to understand and minimize potential challenges like changes in the market, turnover of tenants, property upkeep, financial obstacles, and unforeseen costs.

Before making any decisions, it's crucial to consult with a legal and financial advisor who can provide personalized guidance based on your specific circumstances.

Housing is always a plus and depending on the location the city might be willing to reduce required parking for the location depending on the circumstances, street parking, or walkable public lots. 

., you sell your investment), you may be able to use any remaining suspended passive losses to offset other forms of income, including non-passive income like W-2 income.It's important to note that tax laws and regulations can be complex, and the treatment of passive losses can vary based on individual circumstances and changes in tax laws.

Building Codes and Permits: Insights on navigating local building codes and securing permits for this type of conversion would be incredibly helpful.Potential Pitfalls: Are there any common issues or unforeseen challenges I should be aware of when undertaking a project like this?

Can anyone suggest a brokerage that would consider working with someone in my circumstance? 

Another circumstance is that they may realize they have ownership, but for some reason or another they don't believe they can sell it, which with rare exceptions generally isn't the case......they can almost always sell.These are absolutely great leads for newer investors because you don't have to have a huge marketing budget to pursue them, they are much easier to negotiate and contract, and much easier to access and show to investors because generally the heirs to the property will tell you to help yourself to viewing the property and inspecting whenever you want without them being present.  

You can make great money under the right circumstances, but the work load is many times greater, and Airbnb etc is far from passive (unless you’re giving up 50% of the profit at a vacation rental condo for instance)

For one, I would not trust Zillow to pay out under any circumstances, so there's that.

It's all about finding the right fit for your circumstances.