When buying a multifamily property, you'll want several key documents to ensure you fully understand the property's financials, condition, and tenant arrangements.

This does not include the actual cash flow, refi funds, acquisition fees, etc. i agree I was not expecting 12 pages of congrats either, more just to document the steps I took as many people have asked “how” I was able to do so.Originally posted by @Timothy M.

I haven't ran into an issue like this before especially if you followed all of the guidelines for it to be a legal bedroom such as bedroom size, entrance size, egress, closet, etc.

I've considered a short sale, but am under contract, I think, with a buyer already due to the commitment to sell document I signed...

If the legal balance is already at 60% LTV for example, would a seller expect a higher amount than the legal balance possibly?

I just got off the phone with a law firm doing the foreclosure legal work for a bank.

A good way to avoid this in this future is to use a vendor worksheet/package that request the pertinent contact information along with a document request for the filed out W-9, copy of business license, Worker comp and liability insurance certificates.

Is anyone aware of legal issues with this?

https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

What about legality and insurance. if using a single family home wont the town shut you down (especially if neighbors complain) also will i need a commercial insurance policy?