The place has potential to be converted from SFH to duplex.

v=yKg5ca8Em30This guy converted a pre-foreclosure owner into a paying tenant.

@Kenny Oliver, convert your existing liability into an asset by renting it after buying your next property via fha with 3-5% down. even better would be a duplex up to a quad and live in 1 unit for 2 years. then rinse and repeat. just maintain the 3 core principles: buy for cashflow, use long term debt, and have plenty of reserves

Does anyone have any experience with buying single family and converting it into multifamily?

I completely designed and renovated the property converting to two bi-level apartments doing all design and construction work myself.

Every time I've done the math, almost no matter how whimsical my assumptions about rent/property appreciation, the hypothetical investor would be better off using that X years until they could hypothetically refinance (floating a cashflow negative property all the while), and instead using it to save up the down payment, or buying a house to live in with one of the low down payment options that they could convert to a rental after a year. 

I'm okay with taking on the risk of getting a cease and desist letter at which point I'd convert it to a long term rental.

It's an ADU (garage that was recently converted) so everything is new.

Convert the 24 LTRs into STRs. 

In the areas where it was a problem with residents you can already see people either converting them to long term rentals, if they can afford to do so, or putting their property up for sale.