I don't know what area you're in but there are likely State and local permits, hearings at a Zoning commission where neighbors may voice concerns, Health department approvals, etc. 

Check with your local Building/Planning Department.

@Matt Kauffman Whatever you decide to do, you may need to talk to your local zoning department.

I would NEVER do another Section 8 deal in that city unless the entire department turned over.

This project got us bumped up the bank's business department.

Dear experts, I am currently interested in purchasing a home that will go to auction in about 3 weeks.

look at neighboring properties with new septic systems installed.finally, call the local Zoning Department to ask for the setbacks of the property, front/side/rear. 

I believe Lafayette is the perfect market because we are the connection between Chicago and Indy, we have a diverse work industry including automobile, health, different types of manufacturing, and we have the massive research department of Purdue on top of the school itself.

You can't go to just any Bank he doesn't have an underwriting Department that knows how to underwrite rentals.You have to add back the depreciation taken on each schedule e to arrive at the typically large positive income from each rental.Join the local Ria Real Estate Investors associations and find out what bank lenders they have good experience with getting rental mountains and through underwriting with little problem.

@William BehringYou should get rent roll, income-expenses statements for ateleast one year, lease copies, who pays for utilities inside the units/common areas, review building department status on the property.