I have dreamed of developing the lot, but have no professional know-how in evaluating the financials/costs of new construction, permiting, environmental reports, etc. to come to a conclusion if it would be a profitable/worth my time.

Ask the city if there is any chance of them issuing a soecial use permit for a tri-plex in an sfr zone?  

Accessory apartments are not always legal, and if you don't find a way to pull permits successfully, you could end up with penalties and trouble later. 

I am a newcomer to BiggerPockets, but have had exposure to other real estate investing seminars.  

Aloha,I'm originally from Germany and moved to Hawaii about 6 years ago to start a renewable energy company. I'm fresh to the real estate industry with the intent to learn and become an investor.The original reason wh...

My question has to do with the best way to deal with the hassle of building permits.  

Hi BP, I have been looking for vacant homes and have came across several that have a permit sign in the window.

@Justin BranchSince you bought the home over 6 months ago delayed financing isn't in play anymore.So as long as you don't have more than 4 mortgaged properties you can just do a regular cash refinance.This is of course if your C.I.A. ( credit, income and assets permit )Pm me if you have any additional questions or post in public as well.Have a good one.

Cheers to everyone who provide such a great welcoming to all newcomers. 

My initial rehab budget was originally $42k but ended up running about $8k over due to permits and some time delay with the City.