I paid a young lawyer to research it, and his listserv contacts seem to also be of the same erroneous impression.

For this reason, it is better to err on the side of caution.As to your question on the timeframe.

Their title reports often have erroneous, out of date info.

Not sure about other states, but here in TX you can protest the tax value each year (with marginal success of late I might add).If you are negotiating directly with a seller, keep in mind that a lot of ill-informed sellers do erroneously associate their property value with this tax value...so that may give you an argument in support of your low-ball purchase offer (below market value anyhow).Andy

To build trust and integrity in your business, always err on the side of disclosing who you are and what you do.

What I've observed with new investors is they tend to either err on the side of overdoing it  with complex trust/entity structures. 

I believe it is better to err on the side of disclosure.I've never had to fire a client over this issue, but I've come close once or twice.I'm curious to know the thoughts of others on BP about this issue.

IMO, it's better to err on the side of caution and get a permit, than have to go through process of filing one retroactively or even worse being required to remove or tear down something you've already constructed.Good luck!

Best to err on the side of caution though.

On most BP posts, many erroneously use cap rate as a performance measure which cap rate is not.