Converted Four Bedroom House

[Justin Johnson]

During my analysis of several properties that my real estate agent has emailed me about, I ran across this one that has really stuck out to me.

This 2 story, 4 bedroom house was listed in the MLS as a fourplex but it is really just a 2 story 4 bedroom house where 3 of the bedrooms are rented out to people. I've run the numbers many different ways, looked at it from all angles that I can think of, and even run "worst case scenario" analysis on it. Talking to my realtor, he stated that in order to get it fixed up properly, each "unit" would potentially have to have its own box and other work done up bring it up to code. I will make sure to talk to a lawyer and city zoning officials (and anyone else I need to) up make sure of the details, but how can people rent out a room in their horse and not be required to do the same? Could this property be rezoned or somehow reclassed so it wouldn't require having the extra breaker boxes and wiring/electrical work done? Is there a way to make this property a single family home, but still rent it out as it currently is?

Thanks!

JJ