This is made easier by the historically low interest rates we are enjoying now, where it is unlikely you will want to refinance that 30yr fixed any time soon (as you’ll likely pay a higher rate).

By performing the split we are able to then resell each side of the duplex individually.

Currently we have two properties (one rented, one we are fixing and living in) and we are interested in starting the process to franchise a quick service restaurant.

With that said our deal was: we would buy the property increase value (we have been able to increase rents and the commercial space wasn't rented at the time, we are about to rent that out) and then refinance, the thought was we could get the initial cash out after increasing the value of the property and repeat (sound familiar) - after which we would be 50/50 partners on the property.To my question - since this is a commercial property, would it make sense and is there value in converting this to a condo, where we could get more favorable terms on the residential units (30-year mortgages and 20% DP) versus the terms we have right now?

Hello BP,We recently acquired a condo in  Falls Church,VA area through court house for flipping.The owner/occupant was a old lady did not move out after we purchase the unit.While we are in legal process to get possession, i received a call from the HOA today that the neighbors of this unit observed a foul smell and called the police to see what is going on.we are breaking the lock as soon police arrive and get into the property.The smell could be from the leftover food or could be anything.To prepare for a worst case, i am trying to understand how to deal with the situation and get some affordable master cleaner referrals.Thank you,Vinod.

So far, we have not had any issues with appraisals coming back lower than this 5k bump.Where we are nowCurrently, we have 3 flips, one of which is on the market and the other two will be on the market in the next two weeks.

We are currently in the knowledge seeking and capital building phase with the goal of acquiring our next rental property in late 2019 or 2020.

We are specifically wondering about selling it. 

We are about to close on a flip, and it's the first one that we set up as an LLC with S-corp tax. 

We are looking forward to learning more about real estate and connecting with members.