It sat vacant for 6 months, and now he's just signed a lease with a family of known druggies in town because they were able to move in within a week of viewing the place (he was informed they were druggies by the tenant in the converted shed rental on the property but was antsy to rent it because he's paying the mortgage.) 

As for converting to a 3 unit, do you research with the code requirements as that could lead to a deal breaker.

It’s a 3 br home with a detached garage that (with a lot of work) could potentially be converted into extra living space.

After the properties went under contract we made some concessions in terms of electronics, smart home equipment, doors and locks etc.Does it not make sense to file for taxes under  Sale of Business Property, since the property was bought as a single family and converted into a duplex?

After the properties went under contract we made some concessions in terms of electronics, smart home equipment, doors and locks etc.Does it not make sense to file for taxes under Sale of Business Property, since the property was bought as a single family and converted into a duplex?

I want to convert cash to equity because I feel inflation will rise due to trillions of stimulus dollars being injected into the economy. 2.

Hi all- I may have interest in the long term of converting a primary residence to a rental.

Three potential issues @Michael Cavalli. 1) If you rent the property and some calamity occurs, earthquake, fire, tenant accident, whatever and the tenant is hurt or killed on/in the property that was converted without permits you would be criminally liable. 2.)

Unless you have connections with contractors $20K is NOT enough money to convert a 3/1 to 4/3.

If someone knows of a lender who is still doing single-close/convertible construction-to-perm mortgage or thinks they're around, would love to know as well.Bottom line is, trying to figure out what my best bet(s) would be before I start contacting banks and online lenders.Thank you for reading!