Or they have the option to re-invest the funds into a new flip. 

Hello everyone, rookie here and in search of Easement knowledgeable RE attorney recommendations for the southwest suburbs.

The unit in the basement meets all local ordinances and I am looking to have the property re-zoned to a legal 3-unit.Does anyone have experience going through this process?

And as far as I'm aware there are no provisions in AL wrt Equitable title rights, but best to check with proficient RE attorney in AL.  

There is a lot of time, attention, and discussion of strategies, financing, renovation, managing RE etc. on BP.

I am hearing RE license law violations in gross.

With a recourse commercial loan you will likely sign something saying you personally guarantee re-payment.And for sure it affects your ability to borrow going forward because it is a personal liability and as such needs to be disclosed to any lender you try to borrow money from.

I have re evaluated the deal as a longterm buy and hold with a conventional mortgage.  

Helps get the deal funded, no PMI and gives a cushion as well as the forced appreciation with the re-hab. 

I am new to the RE investing.