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I know they are usually in the worst neighborhoods, but aside from that. I also know most people look at multifamily homes as investments, but I always looked at MFR as mini mansions that were "chopped" up. I always had a vision of one day buying a multifamily home and converting to a single family home. Has anybody ever done this before or know of this being done? Approximately how much does it cost for the conversion?
This kind of thing is done all the time- old houses in the inner-city areas that have been converted to apartments. Then, are re-claimed and restored to their original grandour.
As far as cost- That would be a case by case basis. Some are hack jobs, and some maybe a simple matter (use that term lightly) of removing partition walls and the extra plumbing, etc.
No job is going to be easy- but the reward is great.