I work and invest in the LehighValley and we have a number of investors who come to our market for the price point, taxes, and friendlier landlord laws.

It could be possible that it was turned into a three family prior to the existing zoning laws that prohibit the three family use for that area.

I have some long term holds but this will be my first deal to strictly fix and flip.

Also if houses are continusly rented and are grandfathered in past Missouri state law for some tenancy regulation you can, add some bedrooms to most properties here and rent to college students.

Yes, but with the current tax law, if you're investing in any kind of a value add there should be much more loss than income in your K-1 :) 

As far as I know, it's still illegal under federal law to house a growing operation without proper licensing and the funding of one.

If so start reading up on landlord laws for your state.  

If you are in NC and are going to lend in NC you will definitely need to know some NC laws.

Act like plumbers electricians but get paid per day and are instructed what o do by the property owner.I spoke to a local today who has 100 units and I tried explaining that his handyman who he tells to do things and works 8 hours a day  5 days a week is his 'employee' and the landlord laughed told me i'm an idiot and said that sort of law would put me out of business or I'd just be a slumlord and not do repairs. 

I was wondering if it would be wise (or stupid) to purchase a home with little down (5% or 10%), live in it for 12 months (avoid mortgage fraud) and then rent it out while living in a cheap mother in law apartment.