Question on First Househack

[Kristine A.]

Hi everyone - I've been lurking for a while and still haven't bought my first investment property. A home I'm interested in has been sitting on the market for a while and I think I know why: It's a 2-family with a possibly illegal 3rd basement apartment. Fully rented. I'd be interested in purchasing if: 1) I can owner-occupy both the first and second floor apartments (the footprint is small and I'd like to turn it into a single family space) 2) I can make sure the basement apartment is legally habitable. Can I even legally do this? It would involve moving the renters out of both apartments and verifying that the basement apartment is rent-able. I wouldn't mind keeping that tenant if the rent is reasonable but the owner won't show any lease agreements or proof of income/expenses. Thanks for your thoughts on this. K