I think the reason it makes sense is because a balance sheet (1) is supposed to be accurate as of the date it's prepared, not taking into account the future, and (2) is prepared for the purpose of saying, "OK, if we had to liquidate everything today and convert it to cash, what would we be left with?"

We then acquire the property, intelligently plan a rehab, execute said rehab, and convert the worst house on the block to the best house on the block.

Somebody needs to absorb these vacant homes and convert them into rentals.

I've heard it is less than 1 out of 4 convert, but I have no data to back that up.

Mitch, my accountant recommended the LLC based on our business model, with the option of converting to an S-corp down the road based on how things go.

Converting that to a sale price is not hard.

One of my concerns is that my wife and I will likely look to move into a new home in the next 2 years or so (converting our current home into a rental) so I want to make sure we have good financing available for our personal residence.

I am confortable with the price they want. so should i use a 30 days funding so that I can convert the property to a duplex again or what are my option for a normal funding.

Hey guys, how much can I expect to pay to have a house converted from oil heat to gas heat?

They convert large houses and MFH into furnished "nice" apartments and target graduate students.