The criteria should give more weight to industry specification than geographic proximity. 

Using this card I’ve been able to improve my credit score through credit age and utilization at least that what it says on credit karma, I know to take that with a heavy load of salt, lol.

Many College Degrees perform worse than real estate and its collective debt load is in the Trillions... and of course there is the looming inflation “crash.”

So even though the cash flow is important it is not weighted the same as on 5plus units.

The factors here are several layers deep...1- The threshold decision is rooted in local ordinance and zoning...if you're in an area with tight local ordinances you're fighting with the people that live in the neighborhood before you ever reach the city zoning folks...this can go one of many ways2- ROI on the conversion...you're first stop should be with a local architect...they are worth their weight in gold when navigating a project like this and will wade through the regulatory waters much better than you...and a simple phone call may be telling to whether the conversion would be permissible.The extension of this is the cost of the renovation in relationship to the rents received...the stars would really have to align to say you should spend a significant amount of cash to convert a performing building with 4 revenue streams to serve another function (but there is more to this)...and the cost of construction (and lumber in particular) is 5 fold what it was 1.5 years ago...3- As you indicated...exit...I think the only rational reason to convert a 4-unit would be to get condo status or single family/ shared wall and sell one or both of the units to an end buyer (you are basically paying the role of a speculative developer here)...this is happening frequently in locations like Olde Towne East and Merion Village...hard to demonstrate how successful this has been, but it seems far fetched reasonable consumers would pay the same for a  free-standing SFR they would for half of a "duplex" or condo, but who knows for sure.Either way you look at it you're in a residential appraisal situation on the comparable sales approach....4 unit buildings are still "single family" homes. 

Be disciplinedabout: (i) receiving the requested written affirmations in an acceptable format (vs. e-mail) – I do not know if that would have resulted in a different outcome for this particular deal, if the seller’s intention was to hide information anyway; however, I’d think that having people put that in a different legally enforceable format would carry more weight, (ii) being provided with access to the full property within 48 hours – we would have discovered the smoke issue, the additional tenants occupying the property, and the larger than expected rehab needs earlier, and (iii) taking the full diligence period available (vs. providing a shorter window to be competitive) – this created a lot of pressure as the seller was stalling and only after we ultimately submitted a counteroffer a day before our diligence expired, they responded. 3.

If this can't be done, I fear the only way to die without carrying forward a crap-load of PALs is to exit all syndications when I feel like my time is about to come, lol.

This seems like a boat load of work and risk for you to make a total of $9,000?

This acreage has a lot of character with a creek on the backside, loaded with deer and turkey, and a mix of pasture and wooded areas.

I've never had them come inside to check the load center.