If so, you might have grounds to pursue legal action for misrepresentation against the seller or even your realtor if they failed to verify zoning.Next, confirm with the city if there’s any way to get the property rezoned or grandfathered in as a triplex since it’s been rented that way for decades.

.- They often get sold Class C or D properties while using Class A assumptions - then wonder why they are losing money.Here's some copy & paste info that you hopefully find helpful:-----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I recommend considering your cash flow and debt-to-income ratio before making a decision, and consulting with a financial advisor to tailor the choice to your specific needs.Good luck!

However, if single-family homes prove financially viable, I’m happy to continue building in that niche.Since these homes and projects are significantly cheaper than my market, the risk is relatively lower for me and can do at least two at a time.The ChallengeOne of the biggest hurdles is finding reliable contractors and subcontractors in the area.

The best ideas are the ones that make financial sense.One opinion...hope this helps (and that you're warm in this crazy weather we're having here in Florida).Best.

I think you should seriously consider your financial goals and strategies.

Not because we had failed - this was a four-year resident entering their fifth year on the property when they got into financial trouble. 

Since the funds are business credit, you wouldn’t have to worry about personal financial strain, and it allows you to keep your capital intact.I’ve seen investors use this method in various ways: some use business credit cards (with 0% APR for 12 months) to pay for renovations or bridge loans, others use business lines of credit to cover larger gaps.

Prioritize your financial stability.

That sounds like someone who has been going in the wrong direction financially for whatever reason.