Sometimes the buyers never even physically checked out the properties to see if it even existed or was just a swamp land.

The piece missing is what percent of existing stock the new permits represent, you'll have to find the total size of your market from other sources to complete that calculation.

There is a good rental demand and lots of opportunities to improve the existing housing stock.

It will be local laws and regulations.

@Kevin Lopes I'm not Atlanta (I'm in PA), but my understanding of PA law is that if there is an existing lease and I purchase the building, I have to honor the lease.

The goal is to get a property under contract and keep the existing financing if possible, I don't want to come up with a big down payment and get financing, control it, and rent it out for cash flow.I'd be putting money in to catch them up, and pay any fees.

We've had recording issues where we've had to actually file a complaint against the title company with the regulators.

A few things to consider:Will adding a fourth unit negatively impact the parking, or other property aspects for the existing three tenants?

Also, get a signed and notarized statement from each tenant detailing their current status, whether a lease exists, when it expires, who pays what utilities, their move in date, the deposit amount they gave the landlord and the current rent they pay and any and all discounts they currently receive.

It seems like that existed before the utility employee came over and that they had to be out until it was resolved.