Age of list is #1- If you call your web leads 6 months after they fill out form your conversion would be way less than calling them 5 minutes after submission.

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Property appraiser, ( municipal county sites have a ton of information ) READ every line of what you find  divorce trusts quick deeds second mortgages, deaths tax liens hoa liens all need to be registered .oh and a big one Building permits this is super important to track additions porch enclosures garage conversions What do they have listed as living space?

$65K is a big chunk for the conversion, don't know if I would've done that.  

As @Marcia Maynard suggests this is hot air, but don't let the conversation turn sour because of it. 

A condo conversion will cost a lot in both time and money, arguably more than rehabbing units.A condo conversion can create issues with your current lender, as you noted.A condo conversion exposes you to a different kind of lending risk. 

There are probably more abandoned, attempted, and then wholesaled half-flips or almost-conversions in Newark than completed ones.

In those cases, I mail a letter outlining our conversation and extending the lease on a MTM basis until a certain date, etc.In the past, I've simply sent out a letter outlining the renewal terms, and whether or not there is an increase or such.

Bought two  from Hubzu.Their title company sucks it will correct their mistakes and there will be mistakes.Email them cannot understand phone conversation 

I continued making conversation with him, he is a disabled vet and wants to move to a bigger house because his mother in law just moved in with them.