Also, rezoning from RS-3 to RM4.5 is like a .0001% chance and depending on your ward some alderman refuse to consider spot zoning no matter what

If this is smaller than that, I dont know that there is a ton of room to increase the rent.

@Asher M.Possible, yes but like your lender pointed out it's going to be difficult to pass the self-sufficiency test (SST) for a legal 3-4 unit property.

That being said, I don't have the information I would need to say for certain, but that sounds as if that's a high price for the asset you're considering to buy.

Hello I have a client who needs to do a purchase and rehab loan on a four unit property in New Orleans.

Investment Info:Single-family residence buy & hold investment.

This is like buying any other property, it is valued at whatever the market is.  

Find a deal that will actually make money for a buyer and you'll build a decent list from the initial interest.

I would sell that property in IL and chalk it up to a learning experience.

HI, I own a part share of a nice recently renovated house in North London, with other members of my family owning the rest, left to me in my fathers estate, with probate granted in 1999, as a tenant in common.