I have an unfinished basement that I would like to convert into a bedroom and bathroom.

We're not afraid of a little sweat, so converting a property to a MF property might be another option...which is why we considered the foreclosures on auction.com. 

If you have 0 basis, entire sale price would be gain. 2) If you buy a 4 unit, convert it into individual condos and sell it.

We are planning on redoing the roof and HVAC system before we convert the entire property to a rental.

In my inexperienced opinion, it would be as simple as converting the cash from CAD to USD and transferring it over.

The duplex is actually a converted 4-plex and we’ve decided to restore it to its former glory.

If the structure already exists (usually an original garage), then I think you could convert it to a functional living space for around $50-$75/foot, with the site utilities potentially being the largest unknown and expense. 

Depending on how my tax situation looks this year, I would be interested in converting some of my Traditional IRA.

Our company develops raw land in Nashville, although we typically focus on infill subdivisions converting old industrial sites, we are usually installing all new water/sewer, gas/electric, asphalt/concrete and stormwater infrastructure.  32 units by-right is a bit small, and probably why its been passed over. 

I converted the 4 season porches that already had heat into a bedrooms for very little.