Step 1: ask the municipality if they allow it as many do not ... and, if allowed, what rules they require you to follow! Some also require a minimum # of parking stalls or new fire code or new building code even .. and some grandfather old buildings or buildings before a certain date. Find out FIRST what the city / town / municipality requires, as new building code requirements may make the project economically challenging .. or lack of parking space might render it un-doable.
Step 2: get a surveyor to draw up a condo plan for land and all floors incl. common spaces.
Step 3: get this plan approved by city .. surveyor will do that for you (assuming step 1 is clear) .. and this may require some iteration if city requires certain "upgrades" or conditional approval such as 'Approval contingent on creating 4 new parking stalls and firecode compliance"
Step 4: get a mortgage that allows partial discharge, or replace big mortgage with many small ones (VERY HARD THESE DAYS BTW)
Step 5: get a reserve fund study done
Step 6: open strata corporation !
Step 7: do a market analysis (or perhaps before step 1)
Step 8: find a realtor capable for selling condos .. easy for 1 or 2 .. very hard for 5+ or bulk sales !
Step 9: prepare disclosure documents
Step 10: start selling condos ..
