Good afternoon, BP.I've been looking at New Landlord Transition letters on this site and wanted to create one for myself.

So I was thinking high end townhomes at $1,200/SF - yet any thoughts on the triplex configuration?

Here it is

Have you noticed how competitive the real estate market is right now?

Especially here in Los Angeles / California.Thoughts?

You are at risk of the lender calling the note due.

Do they look at your total rental income (top line, before expenses)?

Truth be told, your lender should have looked at the property up front to see that it is an illegal triplex zoned as a single family prior to you going under contract and told that you that it wouldn't qualify for conventional financing...

Jana,Have you had a chance to look at a 2-1 or 3-1 buy down? 

Any insights here would be great.