When you buy the property wont the "lot of record" no longer apply and the property not be classified as "grandfathered",  as there will be a new owner?  

You can get much more favorable financing on under 4 units because it is still classified as residential. 

It seems as if it was a misunderstanding; it was the lender (or a misinformed person who worked for the lender) who classified it wrong and sent in the request to my title company - we don't need a survey just got delayed until Monday, so ready to move forward ....thanks everyone

I’d list it on the market, I think it has something to do with “Placed in Service” date that is asked on IRS forms in regards to how you claim expenses, what can/can’t be written off during that initial time frame, and how those expenses are classified.

the conditions are varied but majority of blds are classified as D bld and "high" crime neighborhoods high for maine not usa but some sporadic improvements are being realized around court house, canal by river, canal by rt 495, kennedy park, and ice arena by high school. outside this area is much safer and better quality overall conditions, neighborhoods esp near bates college, or closer to highway. more sfr and less multis.many use local long term experienced property management teams unless your strong experienced landlord with systems in place. i have rented too and be inside many lewiston buildings. some transplants have cultural programming like keeping or killing or processing livestock in apartments cupboards and trash accumulation is issue. i have dealt with many lewiston applicants and my experience many with high percent of eviction and or conviction history or both. most are limited by section 8 rules. many my tenants were on younger side, and many had mmj cards and smoke indoors. allow friends couch surf, but some are entrepreneurial but have wrong product. deals can be had. but don't scrimp on professional inspections, or onsite interviews. buildings can be fixed much easier than tenants can.be very careful of flipping single family homes in this tree block area. it wont likely be sold to live in homeowner but rented out by displaced local.

Like perhaps the zoning issue (the lot was actually downzoned after the building was constructed,  it isn't even technically legal for number of units present right now) could be gotten around if the new unit was classified as an ADU.Thanks 

Scott said show up at Home Depot at 6 am a the pro desk and see who is buying supplies.2) Go to REI clubs/get on mail lists and exchange names with other investors.3) Use/Network with great property managers and find out who they use.4) Do the normal methods such as classifieds, craigslist, angies list, yellow pages, random people that approach you.

@Jennifer Sarmiento>while I would definitely feel more comfortable going the safe, out of state route, I'm eager to get started as soon as possible, here :) I think most experienced investors would not classify the OOS option as the safe option. 

Yeah, been hearing that my whole life.I think it's short-sighted to classify a property without considering everything that's around it.

I wouldn't classify Roofstock as a turnkey provider.