Title Insurance will be the most restrictive).Your illegal duplex might have the same Title Insurance problem as this post:https://www.biggerpockets.com/forums/44/topics/441853-need-help-with-colorado-1972-subdivision-law...although that pertains to an unapproved subdivision of a 10-acre raw land parcel.Good luck.

They should also provide you with a copy of the lease (if you don't have it already) and any other paperwork pertaining to the tenants (applications, apartment condition report)  I'd let the current lease ride , and have them sign a new lease after you take possession.  

Is this situation pertaining to putting cash offer when in fact using a HML ?

Also check your state laws pertaining to tenancy because if you have allowed him to be there for the time you have there may be an implied tenancy according to your state laws. 

Check out the posters signature, as many of us including myself have resources other tools pertaining to their niche!

OK, so all you knowledgeable individuals; what are the differences between a short sale and foreclosure as it pertains to credit hit etc.... please tell me..... 

I want to build a complex/duplex on my land and rent to tenants.I've been researching and reaching out to see what all I'll need to do, who I'd need to speak with, etc.Excuse my knowledge gap but I was in Healthcare for 14 years so this didn't matter until land and property were handed to me.So, I own land and would like to collab with someone who can assist and potentially build their portfolio this year by genuinely showing me and telling me the process of it all.Are there things on my end that I need to know, things to watch out for, credit, income, anything you can think of that would pertain to the development process will be greatly appreciated!!

I had some questions pertaining to owner/seller financing on your parents home.  

Specifically finding out the current Owner of the property and any relevant information pertaining to purchasing the property? 

Discount is a term that pertains to the time value of money.