Anyone had any experience converting downtown commercial space into apartments?  

The job requires cutting through the existing roof, adding LVL ridge beams, and framing the dormer and remaining attic space. 

Anyway you go, short of putting a new loan on that property for the cost of improvements (and that's iffy because the IRS doesn't generally like financing placed right before a sale) you're not going to get the money back from the sale without a taxable event.So you may want to count the cost of simply taking $25K out of the proceeds as taxable boot and using those to repay your realtor.Or purchase the replacement property and then do a cash out refi to access the funds to pay them back. 

I actually found a contractor that seems reasonable to work with, but even getting him access to any unit that has become vacant, seems like a chore, and sometimes there could be a 2 week delay before things happen.

Does your record block your access.

@Eric JenningsHere are three things you might want to check out:You can access the podcasts on bigger pockets here, the money show here, and the page about local events here.

But I recommend joining an apartment association and having access to their forms/leases/documents/educational tools. 

But do they offer a benefit to accessing equity to be used to buy other properties?  

Currently, working with PM to gain access to three of the properties for a walkthrough. 

Then we headed out of state for a week for spring break with out kids...Next thing we know a friend who was putting the finishing touches on the basement tells us that he can’t access the property and the door is “stuck”.