You could have bought just about anything and be up over 50% YTD based on how the market has stabilized. 9 years later I now have successfully invested in multiple properties and have followed a simple code on "How can I add value to this situation" and acquiring properties near popular attractions ( a university, stadium, entertainment district, etc..).  

I'd be interested in what the OP's take on the "add on costs" as well...For the type of project you are entertaining, the 221d program is really in a world of its own (as it pertains to borrower benefits)...There loan programs that offer less "fuss", but loan to value allowances and rates will be of no comparison.Regards,Scott Miller

I was in the entertainment business for years, a real estate agent, a high-school teacher, and I've also had a TON of other side jobs

So, the search continues and I await the county records being updated so I can find out what it sold for.End result = NO SUCCESSAny other entertaining stories?

There's also a big preference for the new layouts & design of a new build vs the old one (trust me in dealing with tiny closets, small bathrooms, & an OK at best entertainment layout in a ~110 yr old personal dwelling!)...

Not saying I wouldn't entertain multifamily-- I just feel a bit more confident with the SFRs, especially starting out.  

**Not legal advice, entertainment only**

Have you checked with the city of Houston to see if they would even entertain the conversion?

It’s at the end of the fjord, right on the water, protected by mountains, close to glaciers, lots of great outdoor activities, and I have found there to be less crazy people in Seward vs homer.

For now, it's better for me to live downtown where all the action is (investors, capital, startups, food, entertainment, walkability).