You cannot convert transaction data from the stand-alone version of Quicken Rental Property Manager v2 to Quicken Rental Property Manager. To avoid transaction duplication in Quicken, Quicken does not allow you to import transactions from RPM v2. If you track property income and expenses in online bank accounts, you can download your bank transaction data to Quicken.
Note: Transactions downloaded from your bank might not show in Rental Property reports. For that you need to manually assign them the correct rental property tag.
Quicken RPM does allow you to import the following information from your existing Rental Property Manager v2 data files:
Steps to import Properties and Tenants in Quicken