Many buildings have let that certification slip over the past 10 years.I think condos often make great places to live for yourself. 

You can get whats called an estoppel certificate that the tenants and the owner sign stating they are current in their rents.

You want to get the certificate of occupancy or no?

Construction and investing experience affects the terms as well.Initially the startup cost would be; secure the land lot, get arch & structural plans completed, professional services ie survey, soil test, elevation certificate, RESCheck (Energy Compliance Report), building permit, Impact fees, Clear lot, Pour foundation and go into framing.So you would need your own cash to get started.

Owning a 3 family home in West Philly has costs that I don't think a duplex would have:- I spent thousands of dollars on a fire monitoring system- I spent hundreds of dollars getting the annual certificate- I also spent hundreds of dollars getting a monthly monitoring service for the fire system (this is optional)- You need to get a public lighting account with peco and light the hallways.- You need to pay (I think around $500) for trash/waste- you need to clean the hallways, landscaping, snow removal- you need to have *EXIT* signs that are wired by an electrician - this was crazy expensive!!!!!! 

@Jasmine Anderson yes your permanent financing can be FHA - but you will first obtain a construction loan that will be converted to FHA when you get your certificate of occupancy.

I have challenged building departments and written variance requests that I got signed off on by state engineers in NY to get a bathroom legalized on a property that was built prior to certificate of occupancy.

He recommending all the due diligence advice I am already telling him to do: inspections, estoppel certificates, rent ledgers, etc... without any extra charge to the client.

Usually, for an LLC, you need the articles of organization, an operating agreement, an EIN letter, and a certificate of good standing.Many of our borrowers use Bizfiling, or you can set the entity up yourself directly with the Secretary of State of South Carolina.

Upon completion of the inspection the city issued a “certificate of occupancy.”