There are no violations, code issues, or liens on the property from our understanding.I would like to know if it is possible to get a letter from the city to see if it can be grandfathered in or recognized as a fourplex. 

@Chris Geer If the only access to a property is by crossing through another property, the law usually recognizes an easement.

If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up.

I've even had to have buyers sign waivers before entry is allowed, even though my understanding is that Virginia doesn't really recognize those kinds of waivers. 

In order to avoid the 40.0% ordinary income tax, we would have to wait until November to close on the transaction to recognize a 25.0% long-term capital gain tax.

If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up.

A few months into it, I recognized this opportunity to put my skills to use, so i started flipping homes.

Unless it was in a really high growth area, I would probably sell that property, use the proceeds to 1031 into a couple of better ROI properties, then maybe if there was enough left over use some of those proceeds as gravy for the forever home.On a side note, I'm genuinely puzzled about the "forever" home thing.

An inexperienced investor could come up with a high confidence level in income, but it might not be realistic.I am not busting on you, I am genuinely curious about that part of your reply.

You might try it though, so you're familiar with the data, how many probates there are, see how many attorney names you recognize, etc.If you have more money than time, then the list providers can speed things up some, give you more and better data, probably $30-$50/month.