The house was built in 1990, so I'm thinking (and hoping) that everything still is working fine.

The unit is in a great part of town, very popular area.

Since it sounds like you're getting a traditional mortgage the appraisal contingency is built into your mortgage contingency (i.e., if the home doesn't appraise then you don't get mortgage commitment and get to terminate, or hopefully renegotiate, the deal).Good luck! 

I am looking for a place in my home town.

These houses were built by a company and are all on its own private street and pretty much identical to each other.  

In Mansfield, for example, there is a town zoning regulation that allows only 3 unrelated individuals to live together in a SFR.

Hey @Lance YangProperties tax are not a function of the usage of the property.They vary from one town to another and they can vary significantly.

I actively invest and sell real estate in Pensacola and I think it’s a great town for buy and hold.  

@Manish Sharma it is a competitive market in Indy sometimes multiple offers on the first day it goes on the market especially if you are targeting owner occupied areas of town.

Best is to read your city/town building code or ask the building department.