After about a year we converted the other unit to Airbnb and used the extra cash flow to upgrade the property. 

They are two main living rooms, I am thinking about taking one of the living rooms and converting it to a bedroom.

Hey BP,Hoping to hear from anyone who has ever converted a RM1 zoned property into a triplex, specifically utilizing the basement level as a unit.

Basement was converted a decades ago before legal ADUs were a thing...  

@Amit M.550 SQ ft, currently studio, but some units in the building with smaller size have converted to 1/1, so i might consider that after the current tenant leaves...No parking////

Purchase price: $85,000 Cash invested: $28,000 Sale price: $195,000 Bought a vacant house and converted it into student co-living space with 5 rental room units near Temple U.

I read that for the purposes of writing off a loss on a primary residence that is converted to a rental property, that you calculate the cost basis from when it’s converted to a rental property - so does the same work in calculating capital gain?

what @Tchaka Owen said 100%. do your research and find a good agent. if you have never listed a fsbo before, i would go ahead and try it, maybe you will do perfectly fine with it but theres a reason why some of the best business for agents is to convert fsbos to listings. if you dont care about marketing time, you can always list with an agent later on.

Converted from two rental units to three during renovation.

In fact the authorities are seriously thinking about bringing manslaughter charges if someone gets killed in fires in illegal units.The issue here is getting zoning variances, I bought one with an illegally converted basement and the authorities demanded it be taken down.