Seems all I have for is bad news.....Learn real estate like you did insurance, you didn't begin by going out the door with a sales pitch.

Do I need to report to someone it's a rental now?

Rhett P.First off, "O.N.E." is an O & E which is an Owner's and Encumbrances report, essentially a title search on the current owner for any liens on the property in question.  

The lowest cap rate on the market indicators report is 4.04%.

Re Fair Housing: there is quite a debate here in Tempe about this brand-new apartment complex that is only allowing residents 23 years of age and older. http://www.abc15.com/news/region-southeast-valley/tempe/23-and-older-only-at-tempe-apartment-complex

You will need a local broker or appraiser to assist in finding that data, unless you have access to CoStar, Axiometrics or REIS Reports.

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He also knew about knob and tube as it was listed on his inspection report from 2003, but said there was none on his disclosure.

The good news about that is you're potentially getting such a great head start.

In fact the latest report from CMHC has been sitting in my inbox for a few days already.