I would have a conversation or two with a couple of mortgage bankers or mortgage brokers and get some of the details about the Homestyle loan program.

Investing in the construction conversion costs to split out the utilities, install a kitchen, and any other reno costs.

Thank you very much for the insight, I've learned a lot just in the short conversation I've had with you.

There are a few nuances to doing this - it's either a 10 minute conversation or 10 paragraphs of writing to go over it.Hurdle 1, solution 3) If none of the above work, you could always do a cash out refinance on the primary using Freddie Mac (see hurdle 2 solution).Hurdle 2 solution: Your information is like 3 months out of date, my friend!

We mainly do condo conversions, new construction (8-50 units), and multifamily rental acquisitions.

Without that 3 hour long conversation I would have probably still been running in the rat race with no idea how to get out of it. 

I am here to give any advice I have and engage in conversation with anyone who wants to listen.I am mostly wondering how many in the BP community are interested in turnkey investments?

Below are some links to get you started.https://www.biggerpockets.com/renewsblog/2013/04/09/how-to-buy-a-small-multifamily-property/ (How to buy a small multifamily property)http://www.biggerpockets.com/renewsblog/2014/07/19/how-to-buy-a-duplex/(guide to buying a duplex)https://www.biggerpockets.com/renewsblog/2015/11/16/how-to-choose-areas-multifamily-deals/ (Choosing multi-family deals) BP Podcast 061:How to Succeed in Multifamily Investing – A Unique Conversation with Josh, Brandon, and BenBP Podcast 131: Investing in Multifamily Properties in a HOT Real Estate Market with Serge Shukhathttps://www.biggerpockets.com/renewsblog/2013/03/07/profitable-ethical-landlord/ Much success,Jesse

If there are three units...its probably an illegal conversion.

But, you should find a good insurance agent/broker and have the conversation...