It's 25 units, off-market (we are direct to seller on it) and is a value add opportunity.

@Marty HowieYes people are still investing, at least in residential 1-4 units. 

I am in the middle of turning over a unit and I really didn't want to replace the door. 

So I have a 2 story duplex in Houston, TX and each unit has a balcony.

Has any one converted an SRO to a standard multi unit building?

Since you do have 60 acres I feel like you could probably build way more units if you go through a rezone process.

Let them go.... with the stipulation that you can start advertising and showing the unit ASAP- they make sure the unit is in good condition and kept clean during the process.When people need/want to leave, they will..... the lease wont stop them.

Who knows but we do know larger banks are more interested in wealth management than they are in 30 year low interest loans.Back in the olden days there were no loans for small investors and if you had over 4 units you were considered commercial and that was the end.

I’m looking to scale up my portfolio this year by 1031 exchanging or plain selling my single unit portfolio for a multifamily 10+ units. 

I'm getting up to $1,500 on 2 bedroom/2.5 bathroom unit to give you an idea.