Sell a property with an existing low interest mortgage utilizing a mortgage wrap.

In recently decades municipalities have passed lot minimums that render a huge number of the existing lots unbuildable, so they have had to accept grandfathering in a large number of the older lots.

These "investments" were pure speculation driven by a set of economic conditions which no longer exist.

 - Cashflow is ~2K/month and leverage is ~60% (equity being 40% of current value)Accumulation goals:In the next 2 years, our plan is to buy lots and have duplexes built by a builder we have existing relationship with that takes care of the whole process without too much of our involvement. - Buy 6 additional duplexes.

They have actually shut down new section 8 applicants for people who want to get on section 8 because there are so many existing renters who are looking for housing and so few landlords that want to do it.

Does anyone know if applying for 2 existing apartments on 2nd and  3rd floor with commercial space on ground floor in CMX4  zoning requires fire sprinkler system if no construction is needed? 

Sometimes the delivery is not what someone wants, but punishing is creating an online victimhood that does not exist.

If the existing system is already on its way out the door then removing it may not affect the tenants that much as they are used to its unreliability and you may be fine. 

Is my understanding correct, or is the municipality actually able to prevent one from replacing or adding additional homes on existing pads?

A friend in lending told me I'd get better pricing if I have private lender do a $630K loan, record a deed of trust, before I close and then get a conventional loan after to refi the existing debt.