Orlando Multi-Family Homes
I currently live in Orlando, FL and one thing that comes to mind is the lack of individual multi-family homes around the 3 unit range in Central Florida.
A little background on myself. I was born and raised in Waterbury, CT and for anyone who knows anything about the lower income areas in CT, this is one of the worst all things considered. However, I see that a lot of the properties in that area are at least 3 unit, 3 story, multi-family properties that are affordable with the potential for rent per unit, and/or living in one of the units and renting the others. In general, I think this is a good idea as purchasing one property with the advantage of renting out 3 units seems to make more sense than buying a single family home in a cookie-cutter community and having one rent.
Now I know there are Pros and Cons for having a multi-family home but lets say with all that considered, I am still curious as to why there aren't many properties like that in Central Florida or even Tampa for that matter.
I would like to have an open discussion about this ranging from different reasons/theories. But first question I have is, is there anything that prohibits the building of these properties in Central Florida? Building codes, laws, etc.. Whatever could prevent this, let me know here. If there isn't any legal hurdles, than how possible do you believe it is to potentially build these type of homes.
Side Note: As I said I am from Waterbury, CT, so the image of 3 family homes I have in my head are from this area. The typical New England style 3 story homes. With each floor having its own home complete with bedrooms, bathrooms, kitchen etc.. and a shared yard/driveway. Look up some listings online to get an idea of the type of homes I am talking about.