Much more to explain, but I don't know what you don't know.

I will definitely look into this further.I always find it clearer when explained this way: "you can get 70% of immediate appraisal, or, 100% of the purchase price, which ever is lower"!

Hi -- Can someone please explain how I'd be able to figure out a cap rate on a calculator as if I were a 5 year old?

I'd rather explain why on the phone and you do the math of a typical purchase with pencil & paper as i talk you through it.OK, that aside-- you have a LOT going on so it won't be easy--but nothing worthwhile ever is.  

Thank you, Marc, for taking the time to clearly explain.

You can leverage that with the seller and explain that a financial institution will be financing (add assurance to you closing).

Hi all-I'm in the Seattle area where everything appears to be clad in gold, including the cardboard boxes from Amazon, which explains why it's so danged expensive here for real-estate.

Can someone explain this?

Or, please explain how you think this could be a way forward!

Sometimes units are allowed because they are "grandfathered" into the code (built before the law made illegal), but this is going to be a local issue, and probably not something you can get a definative answer about in an online forum like this.If you're worried about insurance disallowing, why don't you call and ask a couple companies for a quote - if you explain the details, they should be able to tell you if it is not insurable.