Just to add to what has been said here - if the seller described this as a triplex on the sale documents, they might have a legal liability.  

Double check your lease, all the legalities and still check with the landlord....

Seek legal advice, however, what I understand is that there are really two way to wholesale that is legal in the state of Arkansas.

issued guidance saying that you can use LLCs if you get approved to do so.

I was one of the fortunate ones that was able to get out of the contract and after all expenses (forfeited deposit, legal fees, holding costs, etc) lost less than $20k.  

Hello all,
I'm looking to buy my first multi-family. I have a large lump sum saved in an investment account for down-payment and any additional costs. I currently have no debt and make under $100k a year. Because of ...

@Kiryl Ulanovich,You're on the right track:Get Pre-Approval from Hard Money Lender – Know your terms and limits upfront.Find a Deal Through a Wholesaler – Verify numbers and ensure it meets your criteria.Review the Assignment of Contract – Confirm terms, earnest money, and contingencies.Conduct Due Diligence – This includes an inspection (if allowed), verifying ARV, and rehab estimates.Submit to Hard Money Lender for Final Approval – Lender will review title, contract, and property condition.Title Search & Clear Any Issues – Ensure a clean title before closing.Close Through Title Company – Finalize funding and take ownership.Consider also lining up contractors early for a smooth transition into renovations.

@Kash Tacke legally, you would need architect drawings to get approval from Detroit Zoning Board.

All sec8 rentals are subject to review and approval by the housing authority issuing the vouched.  

So I contacted the tax collectors office and was told there was a legal loophole and that since the building had been owned by a non-profit for part of the year it would receive tax exempt status for the full year.