The lead inspector we used let us know the state lowered the requirements for how much is permitted in the home - meaning this is going to get more expensive and the requirements from the city could very well change.  

Also, licensing may be a concern of you're looking for someone to do work that you would require permits pulled for, etc...Consider reputation and trustworthiness on a cheap contractor as well.

This is a total gut and there are plans in place for new construction along with permits.

This is a total gut and there are plans in place for new construction along with permits.

@James HammettTry the local BBB, or city of Austin code/permit office to see if they’re still registered, if you need confirmation.  

Thats is one of the reasons i don't touch and even look at house conversion in to flats.More often than not, a lot of the work is not permitted and the owner pay for utilities. 

Maintenance isn't an issue, I can do majority of the work that doesn't require permits myself, management is done by a colleague that has a pm company and tenant pay utilities.

In addition, this building currently is a legal 12-unit building, but after the architecture review and talk with the city, we are submitting a permit application for a 16-legal unit building with the probability for approval greater than 50%.This building is also within 100 meters of a new LRT station to be finished in 4 years.

2 of the 4 units are not permitted per the listing.

b) if you own 50% at end of land permitting stage, what is a good percentage of ownership to ask for in a long-term syndication?