Thoughts on Converting 1 BR to 2

Wasn't sure where to post this, but title says it all- looking for a new place in the city with my roommate, and we've found some really nice 1 BR places with very spacious living rooms that look like they would work for a convert. I'm guessing a fair amount of you have done/ are doing this, and was curious what your experience has/had been with adding a wall and just any other things related to this situation that I may not have thought of.

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