Alot of eggs in one basket, but if that basket is a good one.....I'd just advise to do your homework around ordinances, fire codes, etc.

The US tax code also has a very favorable long-term capital gains rate of 15% (subject to certain income) that may apply upon the sale or disposition of the property.In addition to federal taxes, investors will also have state taxes to consider.

You need to read East Point's code thoroughly to understand a few things:1) How East Point defines a "nonconforming use" (since every municipality is a little different), and if it is still possible for you to comply with the law and fall under that definition2) The City's violation and enforcement procedures, so you know what the legal stakes are3) The zoning regulations that currently apply to the property, and the most expedient procedure to solve your problem.

It is against the Code of Ethics for a Realtor not to present your offer to the seller, or steer the buyer from accepting the offer based on their personal feelings.  

I have a buyer who will buy just about anything in 15 different zip codes, so long as she can get a min of 20% ROI. 

The building code is not my area of expertise by any means.

I'd call the city and find out what the codes are

This is probably the zip code with the highest concentration of rougher areas in Rochester.  

Hi Burns, The tax-free aspect of the 121 Exclusion (Section 121 of the Internal Revenue Code) is a very attractive strategy. 

The state code seems to explicitly state that the enforcement of mortgage debt is not defined as doing business and therefore exempt for registration requirements:Sec. 1776.86.