Morgan Stanley agrees:  https://www.morganstanley.com/spc/knowledge/managing-wealth/research/Millennials-Put-Pressure-on-Tightening-Housing-Supply.html?

We're nearing the end of our due diligence period, so I wanted to double check that we weren't getting ourselves into a mess before our money goes hard.I also wasn't sure whether to have the current owner fill the units, as I've heard horror stories about owners just filling the units with warm bodies in order to show the higher occupancy on paper, when in fact, they turn out to be not the best tenants.All that being said, I absolutely agree that this is a glass half full situation, as we will get to push those rents sooner than expected.

@Jay Hinrichs  I completely agree and wouldn't work with a company who told someone one thing because they thought they were too stupid to understand just to make a buck.

Be good for a lawyer that all parties agree on to handle. 

I agree with others that would be nice to have one that is fixed up and move-in ready but with a fixer component somewhere.

I love how you have broken down my story into defined goals, and i agree with your assessment. 

I agree to disagree with you.

@Andy Mirza I couldn't agree more.

So after many hours with the town and digging up old field cards in the basement they found the original 5 family card and eventually agreed to grandfather it in and approve a reversion to a 5 fam or less, whatever I would like and obviously after I close.

@Alexander Felice I agree there are more factors to consider.