Are you putting a non-existent down payment in to get your IRR and other metrics?

Personally, citing numbers to a buyer, your current economics is not the issue.You site the Purchase Price, assume an LTV and calc the loan payment for say 20yr, 4.125%.Calc the existing GSI, expenses (with new taxes, insurance) but sans the principle and interese, and derive the NOINow you've got the data for cash/cash and cap rate.These numbers should entice the buyer to be interested BECAUSE there's a cash flow and/or cap rate.

This must be an old home when codes didnt address this or exist.  

Let me know if you ever want to chat about what possibilities might exist out there for you.

Real estate is a risk-reward game.

I believe this can be not only a rewarding opportunity financially but a fun one!

AFFIDAVIT OF OCCUPANCYApplicant(s) hereby certify and acknowledge that, upon taking title to the real property described above, their occupancy status will be as follows:Primary Residence - Applicant(s)shall occupy, establish, and use the Property as Applicant(s) principal residence within 60 days after closing and shall continue to occupy the Property as Applicant(s) principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower’s control.

I need a business attorney, probably someone local, I need to buy an existing company with foreign inheritance, this company needs to be restructured and have its article and bylaws reviewed and fixed.

I will still pursue sales but find that investing will generate more rewards in the long run.

@Ryan Moore the terms of management contracts vary from one company to another, but it is common for them to be for an initial fixed-term and then either automatically renew for another fixed term or simply revert to month-to-month.The contracts terminate immediately upon sale of the property so you would either want to sign a contract with the existing or a new management company prior to closing, or be prepared to take over management yourself on closing day.