Furthermore the local experts can confirm the following: (1) the use is allowed, (2) the use requirements can be protected by permitting and licensing and (3) the permissions are transferable through a sale.

It states that both commercial and multifamily uses are permitted.

Some people have the idea that a successful business person doesn't want to take their time helping newcomers who might be after part of their business, but I think the only people they don't want to help are those that will never actually take action as that is a waste of time.- There are times where I want to ask questions.- No matter how seasoned of an investor you are there will always be something that comes up that you have never dealt with before. - It is just plain good to always be listening to other ideas that are different to your own.

Does the price, rehab, and ARV meet your percentage requirements after holding costs, closing costs, commissions, hard money fees, permits, & other soft costs?

The City of San Jose has on their website that new addresses are required but separate meters are optional (link below).https://snapadu.com/blog/electric-panels-upgrades-power-sources-adu/https://cao-94612.s3.amazonaws.com/documents/City-of-Oakland.PGE-Joint-Information-Bulletin-METERS-FINAL.pdfhttps://www.sanjoseca.gov/business/development-services-permit-center/accessory-dwelling-units-adus/adu-faqs

In some markets the permit process to convert/create addition living areas for income is rather expensive.

We are ready finalize the plans & start permitting. 

So on the low end a $1.5M lot plus a 3,000 sq ft home x $300= $2.4M not including furniture and with permitting to build completetion running most builders 12 to 15 months. 

Sure you had a city permit for everything along with inspections and rules to follow but so long as you did you could make a ton of money.  

Next time on a MAJOR renovation project, I'd have the City of Johnson City Building Inspector join me for a pre-purchase tour to tell me what permits and what jobs they'll require of me.