Single unit in Four-Plex
Hey there everyone. Tonight as I was driving down the road I passed a "For Sale by Owner" sign in the yard of a Four-Plex. I pulled over and took a photo of the sign to quickly save the info. It didnt offer much, a phone number and a price. The price listed though, was clearly not enough for the entire property. So I am assuming that this person must only own one unit in the four-plex. My question now is: Is this a good idea to do? Does any one have any experience owning one half of a duplex or one unit in a three/four-plex? Does this limit what you can do with your piece of the property? Can a majority owner dictate any rules about specific things you can do with your unit? Could they try and fight possible renovations or anything like that?
If anyone has any experience with a situation like this, please share any advice/info. Or, if I'm completely mistaken and single units cant be purchased by multiple people then by all means, dont hesitate to label me a bafoon! Thanks lol.