Fast forward two months, and now the property is rented out, so I decided it was time to refinance.

The specific property I am looking at right now is netting from PadSplit to the current owner  between $5k-$6k per month.

The guy inside was named Alex; he wasn't the owner, but the contractor.

We like the approach of helping people to create good notes that we would be interested in buying if they decide to sell. 

It SEEMS ( I of course don’t KNOW) that the subject of the threat was called out, didn’t want to admit the truth, and when the subject was pursued decided to pick up his marbles and go home in the way of 5 year olds.  

@Zen Lenon, I'm not dealing with HOA's at scale but I agree that MTR owners need to check their HOA rules to make sure the strategy works for them.

Ask to speak with some of their current owners and current/former tenants.

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

By doing this we qualified for a larger mortgage because we could use the rent from the other tenant to qualify and there are better lending programs when it’s “owner occupied”.  

Or if you heard about them but decided not to work with them for xyz reason, I'd interested in that too.