My Name is Caesar Galindo Office manager, and Law Student at CUNY Law School.
If you need cash to renovate the first step would be to calculate the cost, which I'm sure you already have. You can borrow money based on the future value of the property once completed, comparing similar buildings in the area that are fully rented. I work with several private lenders that have a healthy appetite for renovations if the circumstances are right. As far as the conversion is concerned, Gail is correct in advising getting a reputable local attorney versed in the process. Feel free to contact me if you want to look at your options.