finish it,.... your competition did, guaranteed.

Cost to re zone, cost of renovation and final rent numbers.It is always a numbers game but it is a guarantee that 2 units will cash flow better than any SFH when the numbers to convert work.

In regard to Zillow and online leads, the majority are long-term leads and garbage, but if you call every lead you get from Zillow or Realtor dot com back in one minute and then follow up every day for a week and then every other day for a month, it's pretty much a guarantee that your ROI will be phenomenal.

I do know that things got a lot tighter in the last 10 years in that regard, so I can't guarantee (good) fixed rate for that many years are still possible.

From there you can start zoning in and talk to some local pros and BP members.But remember - high cap rate can come at a high price and does not guarantee high returns.

Is there a real need in the community, a needs analysis needs to be done.Will you or can you simply serve an existing non-profit, like Council of the Blind, if so, simply lease to them or individually with a lease guarantee, keep it simple.If I were doing a conversion I would ask P&Z about a R-1 SFD being converted to multi-family, a 5 plex and leave it  at that, P&Z isn't discriminator about who leases, but if there medical  issues or security concerns about a certain population then you may have other ordinances, other restrictions can then be applied.    

Should be exactly what you need and I think they have some kind of guarantee.  

You accept ultimate responsibility for quality and they do not have to guarantee or warranty their work, not legally anyway. 

Can you expand a bit on the 'guaranteed rent'?  

It is guaranteed rent, direct deposited the first week of the month.