Welcome to BP and best of luck investing Mitch!

And what kind of protection are you referring to?

I had been naive to believe him and thinking that all the delays might have been due to COVID.

Feel free to reach out!

I personally wouldn't purchase a condo as an investment and I haven't used an FHA or NACA loan so I cannot comment on them and will defer to others that have experience with those areas. 

When there's tenants already occupying the property, there's often times different leases that were signed among the tenants.Additionally, renting by room usually sees higher tenant turnover which in turn causes more work for the PM.Other challenges to consider:- Disputes/conflicts among tenants (different personalities if a tenant doesn't know the others prior)- Occupancy limits- Splitting utilities (what if someone uses more water?)

Hi Seth, welcome to the community! 

Hi Armando, welcome to the community! 

IOne option is to obtain a Letter of No Objection as to the home's use as a 2 family from the New York City (NYC) Department of Buildings. 

We always leave those extensions and dates up to a client's CPA.