That is, until there is some kind of problem and they discover that their insurance won't cover the water damage, or the fire damage because alterations were made that don't comply with the building codes. 

Nowadays, fire alarms, outside Siamese fire hydrants are required, so even if the zoning board allowed it, you have to do all the above alterations.

Yeah every city is different on whether or not they will need a permit, but generally if you are not altering the structure you don't need a permit.

It has very significant benefits and can enable you to completely alter the way that a bank will look at financing you...1.

Norfolk Utilities cannot establish service if the required documents are missing, altered or incomplete.Activation FeeA $20 activation fee will be assessed on the first monthly billing statement of each new activated account.If I recall, VA Natural Gas service is quick to be turned on as well.

As a newer agent, I'm not sure whether that can be altered with an addendum like so much else can be, but I suspect not without relisting the property?  

All I'm trying to do is calculate ROCE, and I saw this as a potential flaw in the calculator.I share this as it can drastically alter the perceived amount of return from an investment.

@Chris Muller, @Chris KennedyWhether you move-in after buying a new "residence" would not alter the fact you are only permitted to place one high-ratio, insured mortgage at a time.From a tax perspective, if you didn't move-in, the property would not considered non-owner-occupied.

That said, if you are looking for rental value: look at the possibility of altering the floor plan.

Ditto Boone Tyson with one alteration I'm in DFW and have investment property in these and other out of state markets.