Cash invested: $500,000 Sale price: $1,049,995 Contributors: Jess Haas Remodeled, condoized & sold the existing Victorian duplex to breakeven while making a large profit on construction a new DADU / SFH w/ rooftop deck in the backyard.

Cash invested: $500,000 Sale price: $1,049,995 Contributors: Jess Haas Remodeled, condoized & sold the existing Victorian duplex to breka even while making a large profit on construction a new DADU / SFH w/ rooftop deck in the backyard.

Purchase price: $700,000 Cash invested: $100,000 Sale price: $849,995 Contributors: Jess Haas Remodeled, condoized & sold the existing Victorian duplex to breka even while making a large profit on construction a new DADU / SFH w/ rooftop deck in the backyard.

Those lists exist.  

When I did my early high level due diligence it looked to me like they weren't issuing any new permits, but I would love to be wrong on that.I do know, having just stayed there in an airbnb, that even for existing permits the rules are extremely strict. 

This activity has died down to basically non existent.. but you can still see it a bit with those with 5000 post and  350 votes.. 

So, if they have a lease with 8months remaining, and you buy on an owner-occupant mortgage requiring residency within 3 months (typically) you would have to take the vacant unit and honor the remaining term of the existing lease.When that lease expires, I am guessing, you have every right to not renew their lease.  

I believe we’d also need to cross-collateralize our 2 existing properties (Florida and Virginia) as part of this.

We’re developing onto an existing residential property through the addition of an ADU we plan to rent medium term.

The size of the deal makes a difference.Larger apartment complexes are typically not advertised outside of the Brokerage webist and lists, so unless you're on their list, you may not know those deals exist.