You're just building a house of cards, stacking risk factors, and hoping that it will all work out. 

I believe the city council or something needs to be involved, it’s an involved process, I would assume it’s a single family & go off that, the fact that it’s been illegally converted to a multi family is not a factor in the success or failure of trying to get it zoned as a multi.

All of these factors can lead to why the property can sit on the market. 

Unfortunately, factors beyond our control often dictate these decisions.

This is all verifiable info.I am a new investor, being from Albany, I wanted to find something, I still do, but I saw better opportunities a few counties in every direction from Albany, with better appreciation, better ROI, and other factors.

There are 2 factors here, Retail Real Estate Sales and Wholesale Real Estate Sales.

Conversely, many DSCR loans can utilize the interest only payment as the qualifying debt service factor. 

Unless you are building Rental units, the SF Retail market construction market is not doing well, hopefully your builder is borrowing money at sub 10% interest rates.  4 years ago, a lot of builders were only factoring in 3% for total loan costs, I would think that the carry costs would be 10% or more currently.  3.

That could actually be more expensive then you realize.You also have to factor in time.

Of course, there are several factors that play into this:How much money do you actually have to put into the deal?