Doing so will bring in the requirement of proper fire separation between the units ... in many/most jurisdictions simply having a second kitchen w/ a range in (say) the basement necessitates fire separation between floors.Yes, there are many landlords who skirt these requirements and get away with it ... until they don't.

@Brian GibbonsThe Ch 13 bankruptcy is still open.Foreclosure was filed on the house, but was reversed when they were approved for a loan modification in the bankruptcy.The payoff amount on the house with BOA is $97,000The ARV is $125,000The PITI payment is $600 that's with a homestead exemption on taxes.The rental rate comparables are $1200The house needs no more than $5,000 in work,and one could may is move in ready should you choose to keep the paint color and clean the carpet.

We have the documents - they are both loan modifications that looked like they came from Housing and Urban Development.  

You must engage in lost mitigation, loan modification, etc. and can’t do any kind of foreclosure action while the loan modification is pending.� What makes me a mortgage originator?

Hi there,I'm looking at purchasing a preconstruction condo, the details are as follows:- 875 sqft-SE corner unitI can still make modifications to the structure, as long as it is not with the load bearing wall. 

It is a one page addendum and a slight modification of the deed which your escrow company should handle with a paragraph in their docs that gives them the right to do so.

No modifications can be made to my contract without the approval of all parties involved. 

No modifications.  

We have found it much easier and less problematic to do a modification rather than create a new note and have to comply with all of the Dodd Frank requirements.

The mortgage was modified 8 years later, but it looks like a second mortgage (lien) was added from HUD at the same time as the modification.