The one downside is no doorside parking, however the city put in a new parking garage literally steps across the street so parking would not be an issue.The building I've been investigating is 11 stories, has 4 or 5 owners not paying their share of electric, maintenance fees etc, and all floors have different owners except one owner owns 2 floors which happen to be for sale -- I've noticed the owner (of the 2 floors for sale) recently had posts up trying to lease the office space - (crappy ad) and I've also noticed he tried to auction the floors (sale didnt go through) and he's also had liens filed on him by the condo association for not paying his share of the bills.My thought was to find an outside investor or do this myself (floors could be had cheap) build an alliance with the floor owners who are paying their share and wrestle control from the non conforming owners, then reform the structure of the ownership of the building where it could be sold in whole again, hence creating value.I'm very familiar with the building and know my city backwards and forwards, connections etc - think this building has had some horrendous marketing done for the office space, (no website, brokers in town not wanting to steer clients to this building etc)   I definitely think this place could be turned around and once you pay the specials off (about $39k per floor) rents of $7-9 a sq ft (full service) would cash flow nicely - not to mention the upside one has if partnering with the other owners and changing the ownership structure.Maintenance wise I believe one big complaint is the elevators (2 of them plus a freight elevator I believe) -- One sounds like it needs serious work.  

The major brokerages are probably much more rigid around having their agents conform to the corporate brand/image and all of the things associated with them, particularly their agents, and especially the agents on the newer end of the scale.

Then the total of the purchase loan and the rehab loan will still have to conform to their LTV underwriting standards.  

Some makes (Electrolux) have had unusual non conforming hookups to the water & drain lines that required more work/fittings. 

With as many non-conforming units that we have here, it it a challenge for the deal to close with a FHA loan, but it can be done6.  

The method you use to value your inventory must conform to generally accepted accounting principles for similar businesses and must clearly reflect income.

If you go say Conventional Conforming with 20% down you payment will be lower.

There are a few properties that have existing non-conforming uses like this and when they're unused they fall into two categories.

A demo contractor I know is on non conforming heavy commercial , there are houses around him , he makes lots of noise , starts trucks and equip at 4 am to leave for jobs , the neighbors hate it , the family business has been there over 50 years .  

I love these types of non conforming deals.