Quote from @Dana Yobst: Quote from @Julio Gonzalez: @Dana Yobst While it may seem like a simple concept, it's actually a very complex process that requires significant documentation as well as specific methodologies.

Finding these guys will require someone local or a lot of luck.

Despite the guru fed “misinformation” about all these under market price deals, they are actually very rare and require (1) the investor recognizing value that the seller and the rest of the market misses or (2) a seller with a need for an immediate sale and a buyer with the CASH immediately available to conclude a very quick closing usually forgoing inspections, financing, and other contingencies. 

.  --- From the zoning code it says, an RM-2 zoned lot can have "1 unit per 2,500 sf. of lot area"If you don't meet that lot size requirement you'll need to make a request for a variance, then post notice about the desired change in front of the building.

It sucks but that's what is required when you own property.

Just make sure you have all the required permits, including alcohol.

It also requires gaining a level of sophistication and knowledge that not everyone has the time, inclination or ability to do.

Professional property managers stay updated on legal requirements through memberships in state or national organizations.

If you meet that requirement, I highly recommend it. 

That would probably require a professional.