The plan with the cottages is short-term vacation rentals, and since this whole short-term (airbnb) style of renting may be getting pushed out in the future, our contingency plan would then be to turn them into regular rentals, or to sell them if vacancy ever became a real issue.

List price: $950,0003 buildings on property: (1) Old, Victorian style home - needs full gut job; (2) Duplex, fully-rented, (3) Quadplex, completely vacantLot size: 0.50 acres - the buildings are right next to each other and share a parking lot(1) Victorian style home has windows purchased and plans drawn to be a single-family house.

And am I even allowed to do renovations on this style of property?

Serious inquiries only. " style="-webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 1rem; line-height: 22px; font-family: "open sans", sans-serif; vertical-align: baseline; position: relative; overflow: hidden; color: rgb(52, 65, 77); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; height: 312px;">Potential condominium conversion project in a nice area of Los Angeles.Purchase price $10,000,000ARV $13,000,000For those not familiar with the process, I can help with the work.

Your cashflow isn't huge, but if you believe in your area and prefer to keep it, I can't recommend this loan style enough! 

To be clear, these are like a single law office, practicing  from a ranch style home in these areas that we are looking to convert back into residential for buy and hold investing- not 10,000 Sq Ft box style buildings ha.

That's basically what SF style TIC conversion in CA looks like.

I can't recommend this loan style enough to anyone who qualifies! 

These are condo style properties that operate a concierge desk and an in house management for short term stays.  

A commercial/portfolio/DSCR style loan will lend to your business entity.