That said, I've been seeing the TIC (tenants in common) becoming a popular alternative to converting to condos. may want to look into that as well. none of this is intended to discourage you from moving forward, just some food for thought. 

We typically value properties based on rent multipliers, in Avondale 11 is a good rent multipliers.

Alternatively, waiting for rates to drop and then moving might give you better purchasing power.Ultimately, it depends on your cash flow goals, risk tolerance, and long-term strategy.

Also, if there’s a mortgage, transferring it to an LLC could trigger the due-on-sale clause, requiring lender approval.Better Alternatives to Avoid Reassessment & Save on Taxes:Living Trust (Best Option) – Your aunt and stepfather could quitclaim their interests to your aunt, who then sets up a revocable trust naming your mother and you as beneficiaries.

To mitigate these risks:*Have an Alternate Plan – Be ready, if the market slows, to rent out the property.

Explore alternative funding options: Connect with potential investors who can help guide our decision.

Unlike Robert K and many on this site, I judge a property based on total return.  

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

As an alternative, you could supply guests with a dog blanket to put on the the sofa.  

Co-living isn’t just an alternative to traditional rentals—it’s a way to maximize cash flow, lower risk, and attract investors.To make this post more insightful, I’ve included graphs and visuals that break down the key benefits of co-living and why serious investors should be paying attention.1.