My lender says that shouldn't really be an issue, but just wanted to see if this was too good to be true!

All the water issues could have caused this as well.

There's a very good chance the issue(s) you face have already been discussed and answered.Ask questions in the appropriate forum.

We have fought Airbnb on similar issues. 

There's a good chance the issue(s) you face has already been discussed and answered.Ask questions in the appropriate forum.

They will let you know what you can and can't do without a permit and what you are able to do yourself within the scopes of those permits.My concern is because this is a rental, if you do anything that is not to code and the tenant reports it, you will likely have some much bigger issues to deal with.Given you note this is major rehab, I tend to lean to hire most, if not all, out. 

Quote from @Kaleb Johnson: The issue is that you cant cold call people in New York  You cant cold call but you can definitely do SMS marketing and find your ideal sellers for wholesaling.

Lloyds is offshore and I see them a lot in FL where they have the same issues as we do here in CA.   

That just brings on a whole set of issues. 

Would it make sense to abort filing the cost seg for this Property in 2024 and list it as my primary to avoid issues on my next purchase?