Is the city issuing new permits? 

I’m aware of permit requirements in my local township, and I would have to follow up with what’s required in the location of the investment property. 

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.

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

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.  

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. 

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

It states that both commercial and multifamily uses are permitted.

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.