This notification should be clear, concise, and explain the borrower's rights regarding their information.

I explain to him the obvious, and go about my day.

That is why I made this post, explaining my situation and asking how I can learn more about my options 

He explains that this process is a never-ending loop within a cycle.When you mention how easy it is for GMs to blame the market, I assume they are not learning from those mistakes and therefore not increasing their knowledge within their cycle.

This can be a very expensive mistake if you don't make the phone call to check.I am not going to choose sides or define multi-family because the original post didn't ask that and also because the answer will vary from one town to the next.I encourage any current or future readers of this stream to look at the original post then follow the advice I have given and will repeat one more time - if you don't know 100% for sure if your intended use is allowed whether by change in use or grandfather status, then call the LOCAL code enforcement office, explain to them your specific situation as well as your intended use, and let THEM advise you.Disclaimer - this is not to be considered legal advice, but I am beating my head against the wall explaining it because it is an elementary lesson in real estate.Best of luck to all.

Also, define how you'll share the acquisition costs, such as the down payment, renovation, and closing costs.Payment Responsibilities: Explain how to divide and pay for regular costs like mortgage, property taxes, insurance, homeowners association fees (if applicable), and upkeep expenses.Management and Maintenance: Agree on how property maintenance, repairs, and improvements will be handled, including decision-making processes, funding for these activities, and responsibilities for performing or managing the work.Single Decision Point: For example, I've seen situations where one person agreed to replace an appliance while another strongly opposed it.

A C-10 Electrical contractor can explain how to split the units, you may have to sub meter yourself.splitting a single unit in 2 is generally more complicated than building a common wall. 

Can you explain the trouble they had so I can understand better please.

You will need to understand SEC law and how to create a proper PPM.Hopefully that helps explain why I said the question was very broad.

Reality.It's sad that you need this explained to you.