If the cost to do this is reasonable & you can meet or exceed your initial criteria of $100-$200/unit/door/month cash flow then go ahead & pull the trigger.  

Changing the use of the property does not trigger a tax event.  

Be sure to do your due diligence and make sure it's a good investment before you pull the trigger though.

I live and work in Olathe and I bought my first property in Jan in Gardner...even though it didn't fit all my criterion but I still pulled the trigger with 100 cash flow on a fifteen year note just because  I got it 15k below Markey value

I hope to get some good guidance from these meetings then be able to pull the trigger on my first deal.

I will keep that in mind when I finally find the property I pull the trigger on.

@Jennifer Ceren tapp, thanks a lot.I will be looking for BRRR deals, ideally multi-family ones.I want to start very small, despite having around 15 years of experience investing in real estate, I have never invested in the USA....I'm looking forward to my first deal.We will be moving to JAX (Ponte Vedra) around September, I'm actually itching to pull the trigger on some properties I have researched, however with no boots on the ground that may be a bit difficult.

After looking (on the MLS) for months this is the best opportunity I've found and want to know if I should pull the trigger(or at least make an offer as everything goes to cash buyers these days...)

I'm finally introducing myself since I'm ready to take the next step and pull the trigger on finding and purchasing my first rental property and have questions regarding doing such. 

As I get closer to pulling the trigger, the excitement and pressure is mounting to find a good deal and not make a mistake in analysis.