(same process for a 6-unit you want to convert to a 4-plex) You'll need plans drawn and a scope of work showing the finished project, but quite simple The stress test will be based on the 4 units and not the 5-6 units bc the 5-6 units will not exist when the project is completed. 

It must cash flow for it to be sustainable and revalued higher for equity extraction (appreciation play).

I believe he’s based in the Seattle area.

Eg for heat, based on size of the unit, for water based on the number of people living there.

I play in the MTR space from a financing perspective. 

At the end of the day I will not let any one owner put my Real Estate Licenses i jeopardy based on not knowing the laws the VRLTA (Virginia Residential landlord Tenant Act),or Fair housing.  

That's more of what I was speaking to, not for him to go out and put it all together on the fly himself, but the honesty of it is some people do not have Cali or Florida Money, they don't have NY or Mass money but that's where they live, that doesn't mean you can't play the game.  

Based on my research so far, Atlanta seems to be one of the places with a favorable gross rental multiplier, good prospect for appreciation, and sales price around the budget I am looking for and hence I chose Atlanta.

Based on your comments I would think that it was someone that had the best price.

I also really like the 28212 zip code for more of a long-term play on appreciation, with the proposed light rail line hopefully coming in the next 10 or so years.