I purchase the properties as a non-occupant coborrower.  

In digging into the details through public record searches I find out that he has had 3 evictions, several drug convictions, and a violent crime.

Add a Rental Security provision to receive stock options in Lazy Dogs LLC for any upside when it goes public!

The business plan to pay untenable returns is not untenable, it’s non-existent.

Purchase price: $88,000 Cash invested: $25,000 Sale price: $179,900 I got this deal from an agent who was initially going to list it publicly but thought of me first.

Even I the non-attorney would have a rather easy time getting the people of, say Pacific Palisades together to state in mass that E.D. here not only does NOT do "public good" but inversely does HARM. 

Here's a post I made on "non-conforming" vs "illegal/unpermitted", understand they are NOT the same thing.

You'd also need to establish a budget, and secure a master insurance policy. i THINK you need to do these things before reaching out to your municipality to have it converted officially with the county or city but they would be the first ask for steps in order.i will add, this would make financing on these units a bit challenging, as in the mortgage world, at least initially, they would be considered "non-warrantable" condos.

There's likely so much competition at the comps stage that it's commoditized at this point.I would be curious to hear from others, like @Nicholas L. or @Bob Stevens what parts *after* pulling comps they feel could possible be automated without falling into non-scalable traps like iBuyers ran into once they tried scaling their algorithms.

Take note of the number of bedrooms, bathrooms and proximity to public transportation.