As Shawn it all depends on the asset and the location. 

Location is everything concerning condo conversions.

I know it varies by location etc. but ballpark?

Problem solved :)  Where's the home located?

Great location and the home had a solid foundation plus proper square footage to add bathroom, office and mud room for updates.

The locations, amenties and are what attract guests, we don't have mountains or oceans to look at, so being in a resort is key.

I didnt ask about if I closed it prior to ten years, I dont plan to, unless I run into a DTI issue as you mentioned @Jason PotrzebaThe only thing I didnt understand when I talked to a mortgage loan officer is how an IO line could have a lower monthly cost than a P&I line.

Adding keywords related to your investment strategy or market locations can be updated in your settings.

Adding keywords related to your investment strategy or market locations can be updated in your settings.

Purchase price: $175,000 Cash invested: $150,000 Located in The Great Smoky Mountains within a 5 mile radius to Dollywood and the surrounding communities, we decided to do a completely renovate this property down to the studs.