The tax man will take the exterior foot print of the house, yhis is what is usually found at the courthouse.

Lastly, What is the existing configuration of the house and what is the existing footprint and lot size?

We haven't replaced the roof or the boiler, because they work fine, since we purchased in 2013 but they are on the older side.1) Sell As is and Move2) Develop it as there is 2000sq ft of FAR that we could build and the neighboring property which was the same foot print has already maxed out their FAR and condominiumized and sold 4 condos for about 4m.Not attracted to the condo option but it could be the only way developing the property makes sense.3) Move, Rent out both units and Hold. 4) Move, Rent it out and downsize in another area potentially upstate or a "better" neighborhood in NYCI know this is a very wide open question and alot depends on what we "want" to do.

The NAA Barriers to Construction Index cites numerous regulations, including those dictating land usage and environmental considerations, as key factors harming apartment construction.

Develop the maximum footprint, your business can be a tenant and you can lease the other space out.

@Philissa Gilliard I think this depends on the individual and who you're targeting to do business with, If someone contacted me wanting to conduct business and the only digital footprint they had was a Gmail account or something similar I wouldn't respond assuming it was fraud or someone who didn't have their business together so dealing with them may not be as professional.

A home inspector should be part of your due diligence as well but their job is to identify structural issues like the roof, the foundation, the presence of things like mold or termites, environmental issues etc. 

Footprint of the structure is on a 16'8" x 20' foundation.

I believe that the consistent cash flow rental properties 'can' provide is one of the best hedges against the volatility of the stock market, and is the single most reliable way to ensure income into retirement.I actually work full time as a Regulatory Specialist / Environmental Compliance Manager for a large chemical manufacturer based in Maryland.

The issue is the discount that is allowed actually causes harm in cases where the property is NOO or other situations where a borrower might be on the hook for deficiency or tax implications.Also, forcing you to purchase an asset in a geography that is not one you may want, like saying you must purchase on a nationwide footprint seems counter-productive to inducing the highest best bid from you.