There is a 4 plex, technically 4 townhouses, near where I live, that I'm looking into.

Here in my state, all business is technically done with the broker, not the agent. 

- Is the property properly staffed?

When you are interviewing PM's, make sure you dig into the technical questions.

I came up with a defense that the restrictions had a technical defect rendering them unenforceable. 

The issues with it are many; 1) you NEED to make absolutely sure the carrier will insure it especially if you are planning on updating the wiring that is when most fires occur and if you are not insured that’s no bueno; 2) most insurance brokers themselves don’t know or worse issue you an insurance policy - the result is that you technically do have ‘insurance’ in that you do pay the premium but are certainly not covered if something happens because of it; 3) if the electrical has been ‘updated’ check with your township to see what electrical permits were pulled if they have no record then chances are that the electrical may look updated but there is knob and tube behind the walls.

@Sam Morgan - technically yes, but I don't see why you couldn't right one check every month.

At the fastest, you can obtain one on 1 year of tax returns but the lender will take say 50% of that income toward your DTI ratio so your buying power will be hit hard.Only other option to buy will be to use a non-owner occupant loan (which technically you can't intend to occupy) such as a DSCR OR maybe a non-conventional portfolio loan like a bank loan or asset-based loan.All those types of loans will typically require higher down payments and interest rates than a Fannie Mae/Freddie Mac backed loan.

Not commercial technically, but they are businesses in good standing with the city.

Weekends are technically open.)Thanks!