But if the fee is available for purchase, they you can buy the fee if you desire.

The fact that the properties are held in an LLC automatically sends me to the commercial loan department and their less than desirable loan terms. 

Ask if their co. would be interested in creating permit drawings for your desired conversion.

Which area in SLC would sell the fastest currently? Holladay? Cottonwood Heights?

It may be desirable given the interest rate and property value, but it's not necessary.

Downtown Orlando is nearing west-coast type prices, especially in the desirable neighborhoods.  

I have no desire of getting involved in politics.

Hoping that if the city ever turns around its beautiful historical areas like this that would be come desirable.

If you wanted to charge the same rent for similar 3 bedroom homes in the area, but all of the other houses had larger rooms/more floor space, then the property with small bedrooms would be less desirable.  

I funded a bunch of turn key in Orlando 3 to 4 years ago.. my guys there cannot even buy a deal right now.. and those who bought turn key have seen 30 to 50% appreciation in that time frame.. and not from investors  HOME OWNERS are stepping back in big time. rents have not gone up.. but the desire to own a home has.