A for-sale sign stands outside a pre-existing home, in Walpole, Mass., in July.

NJ not so sure but NJ had a lot of cases.Then when you dive into the data for NYC, you notice that Covid was harsh on 1) Elderly people 2) People with preexisting conditions 3) Obese people 4) Low Income people.

As long as you do no general solicitation and advertising, arranging financing with those you have a pre existing relationship with should place you under the private offering exemption from securities registration.  

I have a serious pre-existing respiratory issue and my doc said we dont know what it will do if you get it.

Additionally, with respect to those markets you mentioned looking into, I don't have any pre-existing knowledge or familiarity with those areas either, so I'm hesitant to jump in there (at least for now). 

If both of those situations are "pre-existing" or what some people called "grandfathered", they are usually allowed to remain without any further expansion, like adding more units etc.However, if the second building or the 3rd unit were constructed without a building permit, all bets are off and an "unpermitted" unit or use may not be allowed to continue in many jurisdictions.Both the question of pre-existing and permitted uses should be asked of the city zoning department.And you may also find that insurance and lenders are not willing to work with sometimes either of these situations.We have successfully gotten variances here in PA, but the procedures are governed by state law and local ordinances. 

The third option would be to buy a preexisting 4 unit, but they don't appear to be priced anywhere near 450k.Being that I have not arrived in Portland yet and haven't been able to drill down solid numbers in order to put pencil to paper, my projections may be way off. 

Do you have pre existing assets you can help collateralize the working line of credit.  

However you have to be a sophisticated investor and have preexisting relationships with the deal sponsor. 

Via such a system very little infrastructure is required as it is deployed via existing mortgage lender/originator networks pre-existing.