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Updated over 3 years ago,
Starting Out Need advice on first investment.
First investment property....this is the Deal. A duplex 2- 2 bed 1 bath, a double wide 3 bed 1 bath, a primary residence 3 bed 2 1/2 bath, and an ADU 3 beds 1 bath. The concerns I have are as follows... the original owner did not receive building permits from the county prior to building additional buildings. All that is on the PLAT map is the primary residence. (An appraisers nightmare.) Also this is an estate sale upon the condition that one family member stays secured in the ADU for the rest of life. Seller will take this off the cost of the property.
Trying to wrap my head around the legal of the permanent tenant and the appraisal process.
Seller financing available.
Asking is $650,00 screaming Deal. Rentals are a gold mine in the area.