Check out the legal documents for gotchyas. 

The Real Estate Program im in has a package that not only shows Tax & Legal stuff but alot more then just that one subject & we just had a workshop over here about Tax & Legal a few weeks ago &it only costed $50 to attend or watch remotely. 

It's not a legal bedroom but not marketed as such either.  

However, profit from flips cannot be exchanged (legally) so you'll have taxable proceeds at the end (assuming all goes well :) ). 

Her rent is legally late at midnight on the day rent is due.

I am familiar of the process for changing occupancy and the potential need for a special permit from planning, and the possibility of triggering the need for a fire sprinkler and fire alarm system.

Here is the quick pros and cons on both.Gloucester: Pros -  Good tenant pool, strong schools, most houses have public utilities, consider the more desirable area of Sicklerville by the local populationCons - higher taxes, pulling permits takes the full ~21 days, higher home prices, overall thinner marginsWinslow:Pros - Lower cost houses, rental friendly township, strong demand for rentals, slowly up & coming in certain neighborhoods, lower taxes, overall fatter marginsCons - Lots of C and D neighborhoods and lackluster tenant pools, poor schools, the more east you get the more well/oil/septic you find, considered less desirable area of Sicklerville by the local populationBy the numbers both GC and WT have similar rent rolls only off by $100 to $200 depending on the house type, therefore Winslow you will net more but have a slightly riskier houseAgain this is just a general view, you'll want to look at each sub-division as there are massive swings within each twp (Ex: Brittany Woods compared to Cobblestone in GC)

Good morning BP,Trying to discern whether or not I have legal (or some type of recourse) upon the seller or seller's realtor --- here's the situation.

The bank could finance it at $125k because the apprasial came back great, but its this legal technicality that is costing me $8k ($10k less the $2k decrease in the 20% down payment).I already tried getting A and B to change the sale contract to $125k including fees, but A didn't want to change anything. 

It is available only for properties being held for investment.They would qualify for the sec 121 primary residence exclusion once they have lived in the property long enough that they can claim residency for 2 out of the 5 years immediately prior to sale.You could certainly enter into an option and cooperation agreement with them that would allow you to pursue the entitlements/permitting you might need.