Thanks YehudaYehyda I can speak from experience as I personally purchased and ran a 102 unit rehab condo conversion, along with a 55 and 136 units.

Some of my tenants the only conversations I have with them over the course of the year is to let them know the AC guy will be coming by to service the equipment in the spring.

The build and garage conversion will be great, those are only for primary (ADU+JADU).

@Peter Vuong I am not familiar with your area but I can tell you that I have been having similar conversations about the speed of the growth in the market.

Here are some recommendations for you: Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you http://www.biggerpockets.com/alerts If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below.

If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.Seeya around!

Either way, I'd have a conversation.

What is the best way to contact them to initiate a conversation about me purchasing their property?

Most people tell me no but eventually someone counter offers and then we start that conversation.

@Tim KellyIMHO, smaller buildings are harder to renovate with tenants in-place .... the saving grace for "conversions" is units are often sufficiently dissimilar that you are not trying to renovate them with all the same cabinetry and flooring.With larger buildings you usually have 2 - 4 standard layouts, so you are buying tens of everything.