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Purchase price: $280,000 Cash invested: $75,000 Multifamily building containing 4 separate units each with 2 beds and 2 baths.

But legal description contained phrase "one half of lot [x]..." which is a dead give away that this is not a legal lot under the Subdivision Map Act.  

In my city's codes and ordinances it states that one of the common rental property violations is having "over four unrelated individuals residing in a dwelling unit" would the dwelling unit be considered the entire house or just the part contained in the lease (aka the room)?

The information contained in this post is not to be relied upon. 

That’s not to say that many residential loan docs don’t contain this language.

The link below contains the entire section.

If not, your own vacuum will contain bugs or their eggs, so make sure you address that. 

An LLC also insulates the inside liability and contains it to just the assets held within that LLC (the rental property in this case).  

It contains more detailed information on investing insights, analytics, and, particularly, investing in Las Vegas.Before proceeding, note that the charts only include properties that fit the following criteria unless stated otherwise.Type: Single-familyConfiguration: 1,000 SF to 3,000 SF, 2+ bedrooms, 2+ baths, 2+ garages, minimum lot size is 3,000 SF, one or two stories.Price range: $320,000 to $475,000Location: All zip codes marked in green below have one or more of our client’s investment properties (click to enlarge).Overall Las Vegas Real Estate Market InventoryThe chart below, provided by the MLS, includes all property types and price ranges.The inventory level continued its downward trajectory, significantly lower YoY.Rental Market TrendsThe charts below are only relevant to the property profile that we target.Rentals - Median $/SF by Month$/SF remained unchanged from March, now at the highest level in the last 13 months.