I have connections there in the commercial lending department.

Then, a dear friend of mine put a copy of "Rich Dad, Poor Dad" into my hands and suggested that I read it.

I recommend first checking with your local planning department and whichever organization owns the streets to ensure your plan is permitted.  

But, the first step I'd take is talk with the city folks (codes department?) 

@Jacob Gerber Call the banks in the area and ask for the commercial lending department.

A dear friend just LOST $50k on just such a rehab in Denver due to code and zoning.She started asking questions after-the-fact :sigh:

(but then there are some with a public relations department, you might be lucky!)

according to my attorney who used to represent banks in foreclosures/short sales, the "real" reason a lot of short sales, don't occur is because the department that handles "short sales" doesn't want to take the write down. 

If you have any questions regarding your obligations and responsibilities under a Building Permit issued to you as a homeowner, please contact the Building Department at This Affidavit is required pursuant to Chapter 547 of the Codified Ordinances of the City of Shaker Heights.In applying for a Building Permit, the property owner signing below hereby acknowledges (1) that they assume the responsibility as their own general contractor and (2) that they agree to the following:• Each contractor or subcontractor working on the project under the Building Permit shall be registered with the Shaker Hts.

Also, some nice property managers and associations such as the Department of Real Estate or Apartment Association may have a lease template or form that will be specific to your state laws and one they use for multiple tenants.