Hi there! I'm really new here, and am just getting into REI. Grateful for all I'm learning here and hoping someone might point me in the right direction.
We've been looking for a tri-plex in NM order to house hack, put an offer on one and the offer was accepted (!!!). However, now that we are getting the title docs, etc. it appears the seller had the triplex converted to condos in 2005 (wasn't in the listing - red flag?). Two of the units share a utility/laundry room as well as utilities (we knew this initially, with plans to separate them). We also learned the driveway going from the street to the back of the building for parking is a "utility easement" and on google maps has an actual street name (have never seen this before). Needless to say, as a brand-spankin'-new investor having only purchased a single family home in the past, this all seems odd and rather scary.
Where I'm hoping for direction is:
-Pros and Cons of buying a condo building of 3 units (sellers have a "nonprofit association")
-Is a utility easement/street on the property normal or a red flag for future issues?
-Any websites/articles/videos/resources you know of an can point me to in regard to this situation, I'd be super grateful for.
Thank you!
