likely wont be allowed to  re use  appraisal ...your best bet to have a chance doing this will be to  work with same lender that just completed the  refinance …...in general  appraisals are  valid for 120 days

You should be rockin' the passive income.I never recommend building because, when the economy changed overnight in 2008, builders were the first to go and have still not come back in force.I never buy land - it's betting on the future.

The inherited tenant class, building condition, the financials and associated record keeping, bet you can't even find all the leases!

And he misses out on all the benefits of it being owner occupied, like tax exemption from capital gains because he doesnt actually own the property.I bet he isnt properly insured on the property either, because if he insured the property in the llcs namr, the lender would have been notified of the change in coverage.

Your PM and / or contractor should be your best bet. 

I bet you could double or triple your cashflow (assuming an 8 Cap) and your appreciation, depreciation, and mortgage payoff will also be much, much higher.

@Uma Bapat permit requirements are town/city specific so your best bet is to call the city.

It would be very expensive if you take over the property and more than 2 units are vacant or non preforming Even after adjusting your vacancy and adding it $3k per unit, I bet you will still have a good deal.

In those cases, my wife just listed their house on the MLS, but i bet we could have made a case for a sandwich lease to those who didn't need their payout right away. 

This all about what grade are you willing to bet on ,B ,C homes?