I do not consider it as a game when the state laws protect safe unpermitted units and with ab2533 (that goes into effect Jan 1), the legislation has demonstrated that they desires these protections to continue.The reason to get the permit is not because something bad is likely to result from a safe umpermitted unit.  

My dad's mixed use property was grandfathered as it was built in 1890, before zoning laws went into effect here in the 1920's.

@Sushil IyerWith my experience, to analyze properties effectively, you can start with resources like MLS listings, Crexi/Loopnet, tax assessor websites, or paid tools like Costar and Reonomy.

The 1st position heloc has nothing to worry about because it will still be attached to the property after the 2nd position heloc forecloses....death of the borrower has no effect on it.Likely not time to make a deal with the “owners” since that would likely involve probate, and time.  

(you know all the things we using in running effective and efficient private companies) it would be a different story. 

I think the biggest benefit of the AIA system really shakes out to be the effective & clear communication of the guidelines and procedures for construction management, which tend to be much more muddied in the residential world.

I was mainly thinking about the effects of putting an entire strong cashflow back into the mortgage.

What matters more is whether the borrower in question has the (i) time, (ii) contacts, (iii) experience, and (iv) ability to effectively communicate & package their loan request to banks & credit unions in a way that is compelling to those lenders. 

During ownership, these tend to be more expensive to operate relative to other real estate and lastly, for the limited few who can weather the storm and can effectively operate these properties, there is still a need for refinances.

How do I design a small yet effective real estate portfolio?