Many of the downtown department stores have been renovated for small hotels and condominiums.  

This complex about 22 units in a pretty good area.

Bath rooms and kitchen are the most complex and costliest rooms to remodel because of all the trades and finish options involved.my suggestion ask around for references on a few general contractors talk to a few and get their opinions and a few prices sorry for the rambling post good luck

"Forgetting" to mention the property backs up to an apartment complex, sewage pumping station, or strip joint does not earn you any respect.I know a couple of people who do this well in my area.

On MLS there are designations under property type: Single Family Residential, and Condominium as well as others.

Does anyone have any insight into the effect of apartment complexes on rent prices and ability to rent SFH in the same town or area of city?

If you are engaged in a deal I could argue that it was necessary and education for you to complete the complex deal due to the intricacies.I would push it off until you could complete other items.

If you don't know, call around to apartment complexes or agents.

It's a multi unit condominium that was built in 1971.

I really don't want to just throw my hands up and "let the bank have it"... but the complexity of how to do otherwise (and potentially profit from it) is way beyond my expertise.Thanks again.