Hey all, I’m under contract for a building lot in a AE Flood zone.

Anyway, anything dealing with commercial or mixed use zoning is obviously foreign to me.  

And this doesn't factor in all the plans, zoning, permitting, and interest costs. 

If this is already a duplex, then it seems you're not dealing with a single family zone, so the difference between 2 units and 3 units seems minimal in legal worries with zoning at least. 

My reasoning to sell and re-invest is that the market is red-hot right now, and I'm worried I might be missing an opportunity to get a very high return.Any guidance as I'm very new to the real estate world would be very helpful!!

The property is zoned R1 so technically, there would be only one house and two ADU (garage conversion and detached) allowed. 

We’re looking for a property that fits the following criteria:- Value between 18-28 million- Located in a red state with good landlord-tenant laws (Texas and Idaho are our preference) - If Texas, not near the boarder, San Antanio or Houston area.

Any red flags in the application or all green?

Currently, we're in the red about $650 per month, which isn't a big deal for us since we prioritized moving out of the condo and living closer to work.

But i have one red flag.