The owner took funds on lots that are not subdivided legally.

You may have to register/license your business, it depends on a lot factors such as location, legal business structure, etc.

Hi BP community,

My wife and I are private real estate investors here in Atlanta. We have a few deals that we might be closing on within the next few months but aren't exactly sure which exit strategy we are ...

First, make sure the property was converted to a triplex legally - i.e. all permits were pulled and there are three separate electric meters.Providing the property is fully occupied and the renters are all paying and current it should make it easier to wholesale the property to a landlord.

there are some disadvantages to this sometimes on your basis in the property for taxes.As to how you can legally sign leases etc now, get a limited power of attorney to handle all legal matters concerning that property.

If this is the case, could someone tell me the proper & legal way to do this?

So if it is zoned RT-4 but taxed as 7 units then it is considered "legal non conforming" which is perfectly fine EXCEPT when you, the owner, destroy/tear down the property then it must be rebuilt to conform with the new zoning.

What are my legal options to collect the rent for March?

It's my report that goes out annually to the probate legal community each Summer.

The buy-and-flip appeals to me because I've successfully doneit in the past and feel most comfortable with it.I found Bigger Pockets by accident actually.