Well the seller, today, just received the town inspection report and no longer wants to take care of the requirements (and it was part of the contract that he would).Are you saying the Seller is in breach of contract in that he won't do the contract agreed city repairs?

Assuming this is legal in my city having 3 people in a 1 bedroom unit, are there any down sides I should be aware of? 

I had a similar situation in Irvington Nj, a quadplex as well, with four below market tenants. the city's rent control rules: 472-1 Establishment of rents.

If you’re based in Louisville and have a good knowledge of the city, I’ll love to connect! 

I ask because people stay for 30+ nights for all sorts of reasons...just know that travel nurses are not your only target audience in these major cities. 

I would be happy to show you several cash flowing properties in the City proper so you can see how this works.

The biggest returns so far in Canada had been from appreciation, not so much from rents. 

Not sure how affordable she is :-)Living just outside Culver City I would like to see if there are some recommended CPA's more locally.

I think that's the biggest question... and yes, you can find renters to live in a place that won't well, so a property like yours may not sell for market value, but it could rent for market value.

We are in Haines City Florida, but don't mind traveling.