Help with B&B conversion to units

Hi all,

I have just been to look at a B&B that is selling for $250 000 and is currently fully occupied with weekly rental payment between $630-$850 per week.

It has 4 double rooms and 5 single rooms with seperate male and female communal showers and toilets, a common room and kitchen.

Rather than take on the B&B business, I was thinking of just renting it out as a block of units with share facilities with preferably a government department or the like to take out a head-lease?? (not sure if that’s the right term).

Has anyone done this sort of thing and what legal issues in regards to health and safety etc would there be?

Thanks for your input,

Regards,

Ian