Then if you got the zoning change approved you will have to make 2 functional units which at a minimum will involve walling off separate sides, adding at least one exterior access point, and a new kitchen in one of them.

I fixed somebody's screw up like that before and believe me it is a huge pain and involves a lot of cost.

I think your best bet is to talk with an attorney.

Look forward to seeing your involvement.

These notes will have more due diligence involved with not only the note but also with the seller/holder than other notes, this is not where investors should begin.Due to the ripoff artists of the past in seller financing to homeowners, Dodd-Frank now covers lending by a seller of non-owner occupied homes, you'll be a lender at some point and will need a license.

Sounds like your best bet is a long term renter though - just be sure to do your due dilligence on them!

If the appraisal is accurate, your best bet is selling the house and paying off your investors.

I look forward to meeting others who are involved with investment properties.

I am also an investor myself and am always looking for deals to become involved with.I have been in and around real estate for about 14 years.

Here is the link to setting up your "REI Friendly Team" in metro Indianapolis. http://bit.ly/REIContactListThese are all the people I've come across that are involved with REIs full time.Make sure you respect their time and they will help you move forward in your venture.