I know it sounds like I'm splitting hairs but some banks write HELOCs in their residential department....which won't write Investment Properties.

Lightbulbs, batteries in smoke detectors is on them and written in the lease.You can really do whatever you want if it is written in the lease contract but bear in mind they don't own the home and won't care on certain things.

It has caused problems not just with housing, but health care.

Although I care less about my financial loss, what upsets me is their manipulative conducts.

@Cameron Porter +95% of the land bank inventory is already picked over by the time it hits the public.The only people we know that have bought ALL went over budget and only the increasing market covered what would have been losses.So, proceed VERY carefully!

I think you are best served to get the best advice and that is what will make your business work much better than the ones who don't care about the regulations.

It's a former adult care home, so the layout is shared bathrooms, and this would allow me to not have to change the plumbing layout while offering a competitive price-point and unique experience to travelers.

If you decide to build new construction, be very careful with builder contracts out there. 

What I am trying to say is be very very careful in the city and speak to attorneys ahead of time in regards to the process, cost and how long it will take. 

Just keep your eye on the numbers, be patient, and, if the path feels a bit winding at times, remember that most of us have been right there the ones who kept at it ended up with the sweetest returns.Take care, Pat & JasperTurning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC