and "Believe in the power of positive thinking!"

The posts I've seen about getting a hotel seem to be when there is a water or power issue.

Lastly, once the property is put under contract, the “power” goes the the Buyer.

But yet it's an incredibly powerful concept.So, no only reach about the Financial Calculations........ take those calculations and think outside of the box.

We are in a sellers market, so unfortunately they hold more power.

The Developer may say or write something to appease you, but if/when the Governing Docs pass the power to a newly elected Board after a certain percentage of units has sold, that Board and the HOA Membership may well have authority to change certain rules.The comment above about reviewing the Budget is also critical.

Manshi - seems like your question is unanswered in this forum.What you're asking is: God forbid there's a fire in the property and one or more of the two legal units is damaged, will the insurance company deny the claim due to the fact that there is an illegal basement apartment in the property.I'm in the same boat as you, and I'm wondering if you were able to find the answer through your research.

This is really powerful over time, but the investment options can be limited.

Do I need a power of attorney ( a family relative or friend ?

I am just realizing it is not.its especially hard when you do not come from a place of money and everyone you know are in the same boat as you.