Updated over 8 years ago on . Most recent reply
SFH being sold as a Duplex...HELP!
Today was a day spent in multiple city offices trying to figure out the zoning of a duplex my partner and I have a contract on.
After nearly a day of work, we've discovered that this "duplex" which is listed as such on the tax assessors website, is not actually a duplex at all.
It's a SFH in the zoning and development office and this was confirmed by the office of building.
In addition the office of building is saying that the only way this could be considered legal and conforming is if this property was functioning as a duplex since 1954 without and 12 month disruptions in either of the units.
The question...what would the more experienced investors do? Run away as fast as possible? Or, would you still consider the acquisition if the numbers worked?
Appreciate the help!