Make expeditor contacts so you know exactly what is involved with obtaining permits and how much it will cost.  

But without the words condo being removed from the title the FHA would not approve.So now we are working for another extension and switching over to a home style renovation loan in hopes that we can get approval there, as HUD will not be involved.

I’m curious on the structure / finance of a deal when there are multiple investors involved.

I am no legal expert so I do not know what else would be involved in something like that but it seems to be something that could be done.

We are property managers for short term rentals so we do all our own bookings centralized for all the properties we own and manage and then partner with boots on the ground cleaning, maintenance, etc.

He probably is not aware of the full scope of work involved.

As far as structuring goes, you can set the terms anyway  that makes sense for all parties involved.

We are willing to put in the offer, but just reaching out for any advice for or against dong so, and also what do you think overall, is it worth getting involved with that inside knowledge from the current resident?

Hi Guys, I am interested to know the strategy to buy +60% of controlling shares of Co-Op building in order to convert it into rental units, has anyone been involved in this kind of deal?

In fact, I advise the owner to stay away so they don't get involved and cause problems.