So in less than 20 years you have to give the building back to the government?

In 13 years of owning the townhouse I have never had any communication from the HOA board and no notifications re any annual meetings.

The definition of “livable” or “finished” space can be surprisingly specific.In many markets, including here in Arizona, appraisers and agents generally want the space to be finished in a manner consistant with the rest of the home and serviced by a more permanent heating and cooling source.

However, that's in a sparsely populated area.

Investment Info:Single-family residence buy & hold investment in Climax.

Quote from @Justin Williams: Currently in Baltimore City, per Section 9-701 of the Zoning Code, a conversion from single-family to multi-family (two or more units) in a residential zoning district is only permitted in the R-7 through R-10 zoning districts.

Investment Info:Single-family residence buy & hold investment in Climax.

Thanks in advance for your help in answering this question!  

Bogleheads was the source of most of my formative personal finance education (for ~14 years), and it’s relevant because the SWR discussions there are typically in the 2-4% range.

It's like putting out a For Rent” sign in a quiet cul-de-sac and wondering where everyone is, right?