It has the added benefit that it greatly expands the budget for your rental purchase price.  

I was spoiled with my initial duplex and really had a great landlord experience. 

And whether they find all of these little issues or not, it will still result in thousands of professional fees and many hours of your time to deal with it.Then you need to look at the other side, if you are mis-stating your tax returns, you will also end up providing bogus numbers to banks (also not a good one to lie to), potential investors, potential buyers, impacting the value of your properties by over stating your expenses...Honesty is a great policy. 

@Dustin Smith That sounds great - how many do you have?

@Martina PollardHi Martina,On the surface, this sounds like a great opportunity.  

@Ken Breeze Great to hear.

So we bought into the idea that it’s a great investment. we went non contingent over asking but just not happy with the way the deal went .. reluctance of our agent to spend time on the property  and when we went for inspection with sellers inspector the seller agent was present and that didn’t give us room to ask questions and really inspect and feel the property to our liking… I am not sure if it’s just a feeling that goes away or will this be a terrible mistake .. earnest money is also a very large sum

Any recommendations are greatly appreciated.  

If everything is fine on the legal / rental side of things I would stipulate in the lease that the large living room closet would not be allowed to be used as a bedroom and would need to be utilized in some other capacity i.e walk in closet.I understand no one can give legal advice on this site but guidance or websites to look over would be a huge help! 

Hi everyone, we have a property under contract but we just got informed that there are alterations done to the house without appropriate permits.