Legally many jurisdictions cannot even discuss settling.

But I want to know that the Condo board president has paid.Do I have a legal right to see these records?

Is this something that would need to be permitted? 

I was really just hoping for some solid eye opening agreements to why he wants it all legal and written down.

Totally legal to rebate to a principal to the transaction. 

What are the permit requirements, if anyWhat quality level of finish do you need to hit in order to make it match the demographics of the neighborhood These will all ply a role in determining if you’ve got a winner or a loser.

The cost of the building I am confident will not be over 525k (including permits and the land will be at 125k.  

Keep in mind there is still a max loan amount tied to the number of legal unitsA legal 2 flat in those areas can easily be above $1 million, but with a loan limit of $700k you need to make up the difference.  

Not due to your fault, but delays by others; ie utility hookups or change in service, Use and occupancy permits, and the time to get the property up and fully rented. 

Catching up with unclaimed depreciation is considered a "change in accounting method" and, as such, you're NOT permitted to fix it by amending past returns.The correct procedure is to file Form 3115 with your next tax return and catch up with all missed depreciation at once.