@Angel Rosado We will have to get permits and what not with the town we live in, and then it will have to be reassessed for tax reasons when the studio is done.

There’s a cap on the number of STR permits, a year-long waiting period after a home is purchased before an STR permit can be issued.

For example, SLO only allows homestay/homeshare and Paso's non-hosted vacation rental permits are all taken and you have to go on a waitlist for someone to drop off to be eligible for STR. 

Does it require pulling permits?

Hello Philly Flippers,I am in the process of applying for a 10 year tax abatement on my recently completed flip and just learned that you are supposed to apply for it in the same calendar year that the permits were issued (in this case 2018).

Make sure you find out what you can do and find out if you need a permit.

The mover selects the route and it may not be what you think. utility lines, guard rails, bridges and roadways determine which way to go and the permits will probably be determined with the route.

Okay, what you need is following: - rent roll last 3 years - approved profit & loss of the last 3 years, the last 12 month in detail - property statement (needed maintenance, shape of the units and the building) any violation/permit from the city - the complete unit mix (how many 2 bed, 3 bed and so on) - todays occupancy - market rents for the units (yes or no) - is the property self managed?

Was allegedly a contractor, so I wouldn't be surprised if a lot of the work he did was not up to code or property permitted.

The previous owner had remodeled the whole house without permit and had converted the garage into a 1 bed 1 bath.