WE are seeing this in the Portland market.Montgomery Park the largest office complex in the state that sold about 7 years ago for 250 mil just got bought ( after no one bid it at foreclosure) for 25 mil by Menashe family. its over 1 million sq ft.. dont think you can lose on something like that. reminds me of the buys in 2010 in some markets were sfr's were selling for 1/4 of replacement costs..

I realizing the duplex conversion strategy is more complex I probably wouldn't try it on my first property, just want to get a sense of what's possible in the Chattanooga market :) Thanks!

For a 1300 sqft home, architectural costs vary, but for a fair price, you’re probably looking at $3K-$8K, depending on complexity.

Taxes, costs, eviction complexity, etc are going to be a much bigger factor in your success than anything else.

Given the complexity and IRS risks, consult a 1031 exchange specialist to ensure compliance.This post does not create a CPA-Client relationship.

@Kevin Entner - one is a condo complex, another is a storage unit place.

The complex is gated, 10 mins from my work, and in a good location.

I have a complex next to mine that has over a hundred units, some do very well some dont and you can point to their decor right away as a differentiator.

Britt, I've had coin operated washers and dryers in my rental complex for 8 years and they are very easy to cheat the mechanism with a common household item.

Given the tax and legal complexities, consulting a CPA and estate attorney is highly recommended before making a decision.This post does not create a CPA-Client relationship.