in order for a basement to count as square footage it has to "conform" and there has to be an egress window from my understanding. otherwise its nonconforming and not safe to occupy.

There are still modifications needed to conform to size of the kitchen.

Going from residential to industrial is pretty dramatic unless the residential use is non-conforming and the city is looking to eliminate that use.Good Luck.

They were considered “non-conforming.”

If you are obtaining a conforming mortgage then you will need to wait 6 months to use an ARV with that much appreciation. 

Also it may make more sense to break the debt into 2 loans so you can stay in the conforming loan limit space on the first mortgage.

It’s irresponsible to the point of negligence to manage property (even your own) and not know whether your lease conforms to local laws.

@Nicolas Da SilvaTell us the cash flow with the debt service and without, and then what the cash flow would be with the PMI.BTW, you called this a legal duplex, but did not call it a legal non-conforming triplex.

Hello all,I am currently purchasing a non conforming Commercial Condo in Jersey City Heights which has an active store.I had few questions and appreciate any insights anyone can provide.1.

Hello all,I am currently purchasing a non conforming Commercial Condo in Jersey City Heights which has an active store.I had few questions and appreciate any insights anyone can provide.1.