James Dainard is spilling all his secrets in his first book, taking all the experiences he's learned from in his 3,500+ flips and sharing it with you! 

@Vito DiIennaWhile I have not had to get a Letter of No Objection myself, if I had to do it, I would go right the the DOB, go into the Office that you can get an official Cert of Occupancy and ask them what is the procedure to get the letter.Normally, you will need to provide evidence.

Can you leverage any of your real estate to purchase this?

Like you, i'd be interested if anyone here has any experience with doing this 'technique'. 

I agree with Afra at that price point it's best to start with flips that have $15K - $30K rehab budget to gain some experience and get a good team in place and then work your way up to larger rehabs with higher ARVs!

Glad to hear it!

Not a course, but I recommend the book "Crushing it in Apartments and Commercial Real Estate" by Brian H Murray.

@Kevin Orellana do you like the asset; is it in a neighborhood that you are proud to own it, do you see it continuing to be a desirable place to live? 

What you would do is have an agreement in place with a lender for a bridge loan and have your current home as a cross collateralization.

I agree it would probably look great having a loft.