As mentioned above look in the loan docs for reference to 'condition' or 'use'. 

if it’s illegal today, I don’t want inspector to show up and have more problemsI read about houses build before 1957 so if in current condition I would go to the city to get permitted, would 7ft ceiling still be a problem?

A lot of investors put a lot of weight into their LLC but to be frank, it doesn't really matter until after you've gotten under contract.3.

If you wanted to add air conditioning, you could consider simply adding ductless minisplit systems!

Now we're seeing investors pouring money into buying Class C rentals - but, many are getting burned.In our experience & opinion, the main determinant of property Class is not location or even property condition, those are #2 and #3.

To avoid pitfalls, research liens, check property conditions, and set a max bid before buying.

He also struggled to sell a tenant-occupied property because buyers were put off by the condition—it wasn’t anything major, just typical wear and tear from long-term renters.

With a Condo, couple things to note:1) Financing can be a challenge, but as long as the building is in good condition, you should be fine.

I think it really depends on where the home is at, the condition, etc that may help you make the right decision.

There’s usually not more than one investor with interest in any parcel so there’s is absolutely no incentive for the investor to pay a “wholesaler’s fee” in this scenario.In the scenario where the land is ready for development, and the economic conditions make development a profitable activity, the land owner has already been approached by the developer or multiple parties with offers to purchase.