Fairly new to BP and have a question for those who may be familiar with converting a Legal 2 family (multi-family) home to a Legal 3 family home.Does anyone know what is the process for doing this conversion in NJ (Jersey City) to be specific?

Do not rely on it for legal advice.

If they are motivated at that time to redeem, they will also have to pay your legal fees for the ejectment.If you have a tax deed, you can just give some sort of deadline in the letter and file ejectment after the deadline expires.

Hi Bigger pocketsI've called two property management companies to verify references listed on an application, however they won't release ANY information to third parties. 

I like the flexibility that MTM gives both parties; but it does not seem to have any effect on term.

The financing part is all new to me...so you sound like a real pro!!

Success leaves clues, but so does incompetence.Ensure your wholesaler is direct to the seller - Refuse to deal with anyone who is not party to an actual, valid purchase agreement with the seller.

Option - In legal language, a real estate option is an agreement that grants the party owning the option, the optionee, the exclusive, unrestricted, and irrevocable right to purchase property from the party selling the option, the optionor, during the specified period of time that the option is in effect.I'm wondering if it is possible to control a house using an option to purchase in order to renovate the property (fix and flip) without actually buying the assett with a HML. 

"Best and easiest way to structure" brings up several points in my mind: deal structure + legal structure + tax implications (listed in the order in which I feel more versed, not necessarily their importance).

The main issue that you'll run into with what you've proposed is that you cannot legally rent out 4 rooms separately in Philadelphia.