I do not have a lender right now, and I will need the 12-month rent history as well as various metrics on the property such as insurance quote (which needs property information in order to obtain), existing debt, and purchase price (which would be established while making offers).

The older the home and the closer to the city center, the less likely an HOA even exists. 

How can you find out if an existing mortgage is assumable?

Some investors make it work by targeting less saturated areas nearby, but a lot of folks find more affordable markets out of state, which can make this strategy more feasible.Capital needs can vary quite a bit depending on factors like partnering, financing options, and property types.

When I inspect the property I can usually get a feel for what deferred maintenance exists as well as what it would approximately cost to make the place rentable.This gives me much of the costs.

My question is really around the legality and process of taking back the garage from the existing tenants for this project.

The comps that do exist seem to be performing at a high-levelMarket Overvaluation?

Take over the rent to own agreement from the existing tenants, or something else?

I'm more used to underwriting MF deals and extrapolating existing T12 data, so this is a bit different for me.All the properties are 3 beds, ranging from 1000 to 1400 sqft.

This tells me two things: Obtaining a variance will be more difficult because there are already policy considerations in place intended to reduce density & (2) There is clearly an over supply of rental units in this area otherwise the overlay would not exist.