If you have to borrow the 10k and it would affect your family if you had to pay back the loan on your own then you might want investigate it more or partner with someone giving them the risk and a large portion of the reward.

.: 111408470-MD CLTA Preliminary Report Form - Modified (11/17/2006) Printed: 07.13.14 @ 09:18PM CA-CT-FLAX-02180.055690-SPS-1-14-111408470 5 EXCEPTIONS (continued)11.

If you tell me what kind of deals you're looking for and what formulas you use to calculate your deals, I'll be happy to cull through my lists for you. 2) Analyze Deals - I can also do preliminary searches to check for mortgages and liens, taxes and insurance, that it's not in a flood zone, HOA dues, etc.

Get 1-3 contractors to investigate and bid. 

We generally know what we can spend and what we are looking for, so when we find a potential property it feels so much easier to have a detailed list of expenses so we can make a preliminary decision before we even see the building.

Does anyone have any experience with a similar situation, any insight into the challenges that may come up, or any advice for putting together a preliminary written proposal detailing plans for the zoning board (the property is not inspected or purchased yet, but when I asked the board if the zoning would allow the conversion they asked for a written proposal). 

how do you investigate a neighbourhood where you invest?

@Naeem Boucher is investigating in a multi family building in paterson worth the risk...given the high crime rate?

Investigate and take into account the "health" of the home owners association and hire inspector for the whole building, not just condo.

Investigate and take into account the "health" of the home owners association and hire inspector for the whole building, not just condo.