First Investment Property- Certificate of Occupancy

[Cameron Sutton Jr.]

Good evening everyone, I am close to purchasing my first investment property in NY. The house is currently being used as a multi-family but there is no Certificate of Occupancy (CO) on file with DOB (Department of Buildings). I've been doing research all day and found that houses that have been built before 1938, are not required to have a CO. I read that a letter of no obligation can be requested. Does anyone have any experience with this? Do I need a CO? If I have to get a CO, what are the steps? How much are the expenses? What is the timeline for obtaining the CO? Any insight is much appreciated! Thank you! Have a good night all.