Single Family w/ Illegal Units

[Sonu W.]

Hello everyone - just learned of BiggerPockets recently and have been addicted to all the information on this website ever since.  So glad to be around.

To the point of this thread:

My realtor has proposed me a triplex property that has amazing cashflow.  It brings in ~$6,000 in rent, with ~$1,500-$2,000 in cash flow after all expenses including mortgage.

The problem is (and the reason why I think the asking price is low) is that the house is legally just a single family.  I'm not sure what to look for to see if the property can be legalized as a multi-family, and am a little nervous in moving forward with this otherwise amazing deal.

Anyone have any thoughts or suggestions?

Thanks everyone