Small town, nothing within 8 miles, only shopping center in the town, Street level there is a nail salon on a 5 yr (uses 2 unit spaces), hair salon on a 3 yr, sushi restaurant 5 yr (uses 2 units), real estate office on a 1 year (been there 15 years) massage parlor 1 yr.

Plumbed with macerator to connect to main-house plumbing.Kitchen- framing to finished again plumbed to the macerator.Large master bedroom with walk-in closet- framing to finishAll electricalIn-wall heaters in both bedroom and bathroom (The only source of heat was the existing pellet stove down-stairs in living-room) Upgraded heating to MiniSplit system upper and lower level NOV 2019 What was the outcome?

It's insanely clueless on all levels, so I have zero doubt that the morons of this state will pass it. 

This is a very personal decision and everyone has a different level of acceptable risks.

When you get a minute, I’d love to know what aspects of the sponsor deal you look for to determine the risk level you’re willing to endure.

I think this is a prudent level of market due diligence. 

@Keith Hague Not sure of your experience level so....I would get a 2nd and 3rd opinion on the house to ensure my assumptions are correct.

It's a sound plan but much more difficult now that prices have risen back to near pre-crash levels.

@Larry Turner at the duplex level, your concerns are primarily the same as single family, plus add historic financial statements.Beyond building condition, I would make sure you know market rents, and what quality of finishes are required to achieve this. 

As I understand it has recently been approved from a state and/or county, but perhaps not city level.