There are not enough Gen Z-ers to replace them, and that puts pressure on (legal citizens) wages, partially offset by immigration.

Hey,If "building class designation" is the same as zoning, then this seems like it can definitely be appraised as a two family, with both the legal and actual designation as a two family.Depending where in NYC, that may not help your valuation, as primary residences sometimes sell for more than investment properties, so check that out before challenging the appraisal and definitely before paying for another one.Double check all this with your lender/broker as well.Best of luck!

I think I would probably talk to an attorney tbh these business purpose non regulated loans do not have rate locks that have to be honored legally.. they can and do change them unilaterally.. borrower accepts counters or declines and loan fails. 

Visa and FinancingYou're correct that securing a mortgage might be challenging without legal status or a W2 job.

If the seller is trying to avoid legal issues with the city for illegally operating a property I would get out of that.

First, the tenants signed a legally binding contract and do not just get to walk away on a whim.

One block may be legal, the next block may not be.

So if lots of parking, ideally walking distance to busses or transportation to cut down on cars, you might get away with it (legally).Operationally;  this is a can of worms to manage. 

That will dramatically change the nature of the wholesaling business with the legal compliance factor that agents need to comply with.

Purchase price: $330,000 Cash invested: $15,000 Legal 3 Flat (that was not for sure in the beginning).