From my experience, if you approach the conversation in an empathetic, considerate way, tenants generally respond positively.

That will give you the absolute best chance to conversions!

Want to know how a DMM conversation goes? 

Some of the potential pitfalls have been elaborated above, but here is a direct link to the IRS rules explaining the details:https://www.irs.gov/retirement...I understand your disappointment after your conversation with the custodian and broken expectations.

Garage conversions, depending on the setup, can be surprisingly expensive. 

Hello Texas Investors,I am in the process of converting my primary residence to a rental and I have been advised by multiple sources about the security devices requirement in Texas' property code: Sec 92.153 in this linkMy house has an enclosed patio/sunroom conversion with laminate flooring, a ceiling fan and is on the same HVAC system as the rest of the house.

I’m currently doing freelance work and just finished an ADU conversion a few months ago.

Credibility Is the Catalyst To Conversions!

Our attorney suggested a series LLC, but we'd put that conversation to the side. 

Step 4 "Action Jackson" Now you have a not only about $700k in liquid cash, or more, sitting in an account but at same time you had conversation with the commercial lender on use of funds which was to expand portfolio holdings and they gave you a rpe-approval for $4m in commercial mortgage financing to add properties to.