This conversion would allow the now 1 bedroom unit (converted from studio) to have private access from the exterior.

@Scott Nolan Im not sure what the conversion rate you can expect is.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/ If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.Seeya around!

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/ If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/ If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Your post above simply reinforces again the misleading conversation I had on the phone.What really disturbed me and cemented my decision was the post by @Eric Tinsley on this thread. https://www.biggerpockets.com/forums/92/topics/203379-do-hard-moneyFor ANYONE to take a $2000 deposit (I thought I was told $2500), and then tell the client the property they already submitted doesn't qualify is beyond absurd.

Reserve at least one for your local area, to keep up with conversations and connect with investors in your area.

The response rate is low and your conversion rate is about that of any direct mail/telemarketing operation (i.e. dismal).

I'm coming in 5 years late to this conversation but I'm at that crossroads as well.