knowing that it was once a 4 just provides some assurance that zoning likely still allows a 4, but other than that just imagine all the permits, approvals, inspections, fees, etc required and the time and labor/materials it takes nevertheless. to me it matters what it is now (not what 'used to be') and so i'd offer 3/4 of what i was going to offer when the agent swore it was a legal 4; i woudn't write an offer contingent on coversion, as it is what it is, a 3fam with an extra walk-in area (that likely belongs to one of the 3 units under current C of O).

There will be more opportunities with nicer homes and I can assure you, your life will be better. :)  

If you're trying to cram $25K worth of reno into a $15K budget, you're going to be frustrated with your contractor for not being able to perform miracles.The second part would be asking for references, or even better, asking to walk through current projects to get an assurance that they really know what they're doing.

Just be sure to assure them that all will be finished prior to move in.

Possibly, but the buyers will at least want assurance that the tenants have agreed to vacate by a given date.

If people are interested and I feel like I might break it all down, but I can assure you that if you see all the break down you'll see that I did not overpay on anything.

I haven't submitted my earnest money yet due to everything being closed for the holiday but once I have..rest assured I had better receive  the above documents in a timely manner or I'm out.From my understanding the wholesaler found this investor through a mail campaign he did a short time a ago.

If the seller want's some assurance they're being made, you could offer to send along the statements showing the payments.

One thing that drives me crazy is how many people call and assure you they are coming to buy a unit, then they just never show up. 

Most small RE investors aren't accountants, estate planners or corporate attorneys, failing to manage the details will open the pulls that veil back.You'll also find that in an active management position, you doing the management, your personal exposure is still there.The very best assurance of not being a target or being liable for any issue is good management practices.