Certainly, you want to convert any cash you receive instantly into something else.

Then I remembered that we converted the garage to living space, so the total square footage on this project is actually about 1700 sq ft (not the 1400 I posted above).

If he can afford to convert to a Roth, he can avoid most of the taxes.

Here's the really simple analysis:Rent: $7500 (10 2br units)Expenses: $3750 (50% rule)NOI: $3750Desired cash flow: $1000 ($100 per unit per month)Max payment: $2750Max price: $413,346 (7%, 30 year)Subtract off the work that's needed, and the cost to convert the 1BR and studio units to 2BR.

I converted that to an ARV of $270 for a "quick sale".

I was thinking about converting it into a single family.

They'll still have to convert it to green backs to pay taxes and such.

Do you know anything about converting apartments into condos?

I would also like to buy inner-city empty lots and convert them into green house gardens.

Also, what would be involved, aside from convincing the tenants, redoing the leases, and lowering the rent x amount, in having the utility bills converted to the tenants names?