However, there is a fine line between compliance and taking advantage of the situation and stacking on junk fees.

@David Faulkner  Ken I can assure you Mr.

Correct, there would be less equity to pull, but that equity would buy you far better deals on far more property, and you'd know for sure at that time which markets are 80% off, and you would be more assured that you would be able to carry that extra debt (still not guaranteed), because if you don't have neg. equity and can service the debt AFTER things crash, then you sure as heck can much easier once they recover.

That's a GREAT Bargain because you are assured that you will get much more than that if there are no conditions that offset that difference!

I think Uber is the prime example of a company using the strategy of non-compliance and then forcing localities and cities to react to their business model.

Even if not in compliance, you could have something very worthwhile to an investor willing to get it up to current code.I would call the building department before your trip and get all of the information you need from them.

Give Janet McCaskey with Member's Assurance Property & Casualty a call.  

If AirBNB isn't paying for its cost of doing business, making billions of dollars a year, why does it make sense to have the cities and states tax its citizens, to fund investigations and compliance, just so the responsibility of AirBNB vetting of its customers can be paid for with tax dollars? 

My network includes attorneys specializing in medical marijuana growing licensing and compliance. 

Any addition in the rear of the house above that first floor would need to be in compliance of the minimum rear yard depth and maximum lot coverage.