It's easily scalable into duplexes in the future if you want to move into "your own space", or you could start looking into adding an ADU into the backyard of the cash-flowing property you already have established.Always open to more conversation if that's helpful!

Mother in Law Suite Garage conversion as well.

At that point they also have the right to move out of that unit and turn it into 3 unit rental because again now that it’s not an FHA loan they are "NOT" obligated to live there after the FHA to conventional conversion refinance.This is one of the better ways to approach the BRRR method but you still must qualify.

@Bill F. yeah of course the price doesn't have to make sense, but the point of my value conversation was inside the original post and follow-up which is about how new investors can pay more, not because it's worth more, but on a set of factors that aren't real so the so-called supply and demand isn't real.

I'm a little late to the conversation, but I've been keeping my eye on Grier Heights.  

Hotel To Condotel  LoanProperty Status Rehab Mode Approx 50% Of Units CompletedCurrent Purchase Price $7 million$7 million/130=$53,846 per unit purchase priceNearby Rental Income Per Unit Is $1,280 per month$1,280x130=$166,400 Gross Monthly IncomeGross Yearly Income Is $1,996,800Gross Income Over Life of Loan With No Rate Increases $59,904,0008.5% LTV $59,904,000/130=$460,800/360=$1,280Average Daily Rental Income Amount Insured $43.64 Loan Amount: (75% of $7 million) $5,250,000 Loan Interest Rate: 7 % Loan Term: 30 years Monthly Principal: $14,583.33 Yearly Principal $175,000.00 Monthly Interest: $30,625.00 Yearly Interest $367,500.00 Monthly Tax Amount $7,583 (130x700) Yearly Tax $ 91,000.00 Number of Payments: 360 P/I Cumulative Payments: Yearly $542,500 Lifetime of Loan: $16,275,000 Total Interest Paid: $11,010,000 Use of Funds: $1,250,000 million to investor/owner$ 4 million used to cover monthly expenses for 48 months while conversion is completed

Indeed, as Allan laid out it is rare to see high levels of conversion with cold email marketing BUT I'd argue that is primarily due to our approach.We instinctively think, as @Keegan Van Kooten outlined above, that we should lead with us (who we are, what we can do for them, etc). 

A legal mother/daughter conversion. 2 separate entrances, 2 kitchen, etc. 

I'm assuming that's how I should think of calculating it, but I'm not certain on the conversion rate I should expect.He would also be living in the home and I would purely be operating as an investor.

The opportunities will present themselves, you just need to be available to participate in those conversations.