The lot is just inside the border of an area recently up-zoned to Residential Small Lot (no minimum lot size, 1 DU per 2k sqft).

" style="-webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 1rem; line-height: 22px; font-family: "open sans", sans-serif; vertical-align: baseline; position: relative; overflow: hidden; color: rgb(52, 65, 77); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; height: 234px;">View report*This link comes directly from our calculators, based on information input by the member who posted.Team, This could be my first Brrrr deal and I don't want to get stock into the analysis paralysis, but I will like some opinions about this deal.

No matter what happens, I plan to do up a formal contract with lawyer oversight.

style="-webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-family: "open sans", sans-serif; font-size: 1rem; font-style: normal; font-variant-caps: normal; font-weight: normal; font-stretch: inherit; line-height: 22px; vertical-align: baseline; position: relative; overflow: hidden; caret-color: rgb(52, 65, 77); color: rgb(52, 65, 77); letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; height: 296px;">Who knows about the laws and rules regarding the # of units within a condo that are allowed to be rentals vs. owner-occupied?

You do not have to formally structure it as a partnership or form some business entity like an LLC.

Purchase Price: $885,000 Taxes: $23,000 per year (yeah I know, welcome to NJ)Rents: $2,925 (3 Bed 1 Bath) , $2,925 (3 Bed 1 Bath) and $1,450 (1 Bed 1 Bath)Legal two family with third floor "border" apartment.

These are businesses that are coming here from across state and international borders.

Up until this point, I have done nothing formal to establish a new series each time I purchase a new property. 

If there are multiple listings in that area without permits, then there is a higher likelihood of there being no formal permit process.

Most investors in todays market will move on a deal without a formal inspection/appraisal.Best of luck.