They found it out, andI had to go to the planning board and zoning board, hire an engineer and architect to make the fourth unit legal.In my opinion, the realtor should have verified the zoning, and if you used bank financing, it's pretty rare for the bank to miss it as well.You are probably going to have to hire an architect to draw plans and to get it approved as a triplex.I wish you luck.

If you are not planning to live in the property, then you are not going to qualify for an FHA loan.

You understand some of the basic concepts, but also have some giant holes in your plan.

My fiance and I are in a unique situation as I play baseball professionally, and she works online and plans to live with me during my season.

A little about me for context: I live in a very expensive market in Rye,NY. 

I have a degree in civil engineering and 15 years construction, site development, and short term rental experience and am looking to shift my focus/career towards real estate development, mainly raw land although if there were a house on the property could include fix and flip.I plan to purchase 50+ acres of raw land with 1000+ feet of road frontage, have it surveyed and split into separate 5+ acre parcels for re-listing.

I am planning to offer an equity position to a friend in a property I am currently in the process of refinancing.

@Matthew Posteraro That's a solid plan.

I dont know the terms of this specific home equity agreement but the ones I have seen in the past were pretty expensive.

Bulldozed the house and plan to build a new house on lot in the future Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?