Converting to a dual occupancy?

Hi All,

I’ve found a 5 bedroom house (3 bathrooms) on a 395sqm block and was thinking of converting it into an adjoining 2 bedroom & 3 bedroom unit as it also has 3 living areas.

This would be my first IP and was wondering if anyone has had any experience with this sort of thing as I would really appreciate any advice or a heads up in regards to hidden costs etc.

Thanks
Jen