My HELOCs can be converted to fixed rate loans if the rates go up uncomfortably.

It can mean living on much less and having wealth that can be easily converted to cash when needed.Do I consider my self rich or Rich Weese ?

But until they stop my ability to convert gold into paper currency, then I can effectively buy a house with gold.

I am using a self directed IRA to fund these deals.I may convert some of the rentals to owner financed purchases as conditions permit.

(REO)Pros: may get offer accepted at $180K, appraised for $350k as a single family home.Cons: needs to be converted into a single family home (including code violations needing to be corrected), bank wants to sell property as-is tenant occupiedMy plan is to package the info including construction costs with plans on converting property into a single family dwelling and wholesaling the property for $220K.

These guys know what they're doing and make these buyer/seller sites to convert and SEO ready. 

I think the answer hinges on what they could get for the condos if converted, so it's pretty difficult to advise without having some idea of that potential value.

@ Brandon I had the same occur when i was renting my old residence which was converted to rental because i was posted overseas.

While you are doing all that work, you might as well try to track down the people who received the cash and convert them to private lenders.

Also, all carpet was removed inside (tile in kitchen still looks good).Garage was converted and the conversion looks to have been well done.I estimate that it would need all new flooring.