Good layout/space.

It's a 2 family with a legal basement, 3/2/3 layout.

Usually properties with the potential to pop the top entirely plus some layout changes for you to value add.I believe a good work order mechanism doesn't always have to involve technology.

I will lay out the details and then the question. 

Some potential foundation issues, weird yard layout and just about the least attractive kitchen ever add up to an odd duck.

Oddly enough, any three unit or more that undergoes floor layout changes will require sprinklers and a full set of construction plans.As a builder of many types of units, I have learned that residential re-development is more efficient than new construction.

Learn the layout of the area.

As a single family with a nice layout, 4 beds, 2+ baths, nice yard, everything updated it becomes much more liquid.My suggestion would be to see if the seller will come down off the $280k any and then take a look at it to assess your minimum repair costs going in and then make an offer based off of this.

The zoning allows for high density, up to 35 units per acre but the layout of the property realistically would only fit 4 town-homes.

Were I in your shoes, I'd contact a real estate lawyer in that area, lay out the facts and documentation and ask them how to proceed.