I look forward to future conversations, and I am sure I will be able to use all the help and knowledge I can get.

Is there anything you actually need to do for this type of conversion?

Even just entering the listings or vacancies might get you very conversant in the local market.Then you could also make some key contacts, learn the process, and maybe even find your first deal (a client may be willing to owner finance a rental, for example).If you are handy, you might try and work with a firm that does apartment turnovers (make ready) or even as a laborer for a remodeling contractor (especially one that does flip work for others or on their own)--to get the full hands on view of how to get apartments ready to rent or flips ready to sell.Maybe the best hands on way to work in the space is to buy your first rental; maybe your first or next home could be a duplex or single family with an accessory apt.Best of Luck.

@Carrie Cavins I would engage them in a conversation.

Our conversation, however said we would list the property in May for 200k.

The following link has a good example of what I mean: https://www.biggerpockets.com/renewsblog/2015/03/04/how-to-turn-around-tenant-lawsuit-in-single-conversation/ I’ve found that acting in such manner---combined with careful screening---will lead you to tenants that can come to you about their problems before things get out of hand.

I can't imagine conversion rates are too high.

Michael Klinger Indianapolis is a great play, and with your potential tax implications you need to have a conversation with Eric Gaudio

I definitely feel your pain and many of us have had this same inner conversation.  

Sean,Thanks for joining in the conversation.