The neighborhood appears to have been developed 100 years ago without regard to spacing and probably before zoning or automobiles even existed, so there's no off street parking, no space. 

The method will be:-Implement professional management-Rebrand the property-Raise rents to market rates-Use existing unused space for rentable storage space-Make the tenants feel that we care about them and keep 'em coming back for more.

Deals on foreclosures are, more or less, non-existent these days.

I want to take that equity out and invest in existing rental condo market.Questions are:1.

A Thorough title search includes written inquiry to the code enforcement dept (and utilities, etc) in order to uncover any existing but unrecorded code violations.  

As a matter of fact, there is a rather lengthy waiting list for the few programs to actually do exist and that waiting list can be as long as 24 months. 

Ft. to each existing unit.According to the City, this home was never zoned as multi-fam because the 4 units were in place prior to the City actually having a building department.

Are you planning on restructuring the existing layout into a more open functional space to add value?

Is it possible to get loans just for construction on a property with an existing mortgage?

What if market rents in the defaulted borrowers area are higher than their existing mortgage payment?