Well, its likely in there somewhere. 5G is going up and adding equipment which warrants an increase in rent if the lease doesn't permit expansion.

Building permits, a leading indicator of future construction activity, were up by 1.5% to 1.80 million units.Rent costs rising over the past few years could finally be hitting the consumer's wallet in that they are becoming weaker and unable to afford higher rents.Also, looking at the housing starts data, new supply may be entering the market finally, causing prices to drop as consumers have more options. 

If something like government placing Covid eviction moratorium that permits the tenants to not pay rent for a couple years without a means to evict happens, that can result in a purchase underperforming my underwriting. 

Did work get done in the past without a permit that they discovered?

Lenders are not permitted to disclose loan terms conditions or even borrowers names until the loan is in foreclosure.

"It is not legal to divide an existing dwelling unit into separated living spaces, thereby creating new dwelling units, without first obtaining DOB work permits,"  That would be an illegal conversion and can result in violations and other enforcement actions.

Yes, you can sell it.Sometimes Peoria will grandfather a duplex and refer to it as a "legal nonconforming" single family zoned property with duplex as permitted use.If this is the case the new owner will be able to legally and officially use it as a duplex.I have also heard of people finding an architect to declare that the house was originally built as a duplex, which would help you get it rezoned as multi-family and duplex as permitted use.PM me for more info.

with maybe the exception of a parcel that is clearly served by city Sewer Water and have power and Tele / internet to the lot lines.. and you have double checked the hook up or Systems development charges and if they have capacity.. keep in mind many parcels in subdivisions that were basically built as recreational subdivisions decades ago.. ( think GLEN GARY GLEN ROSS and for sure watch that Movie is exactly how the industry was in those days) the original infrastructure was allowed to be built to maybe serve 20% of the development that was legal and now you have moratoriums and assessments etc etc..

If true I am now around position 40 and maybe only ~10 years for having a permit.  

Hey Luca, You could potentially get it inspected and go through a reverse permitting process.