Hi,I recently transferred the title of a California property from a C-Corp of which I own 100% of the shares to my and my wife's individual names.I was advised that the transfer would not trigger a property tax reassessment based on the fact husband and wife are considered an economic unit and the transfer would not be considered a "change in ownership" since 100% of the property ownership would be transferred from me through the C-Corp to me and my wife.Next thing I know I received a notice of supplemental assessment dating from the title transfer date.Was I incorrectly advised or should I contact the Assessor's Office to plead my case?

@Kim LeJeune Definitely consult with an attorney who specializes in this area before moving forward.

You can then go on to occupy another multifamily property, acquiring a conventional loan with a larger down payment.These rules/lending limits might be a bit different in your market, but my point is this : the rules are tricky, you need a long-term plan and a great lender/agent who specialize in investments.

If offer is accepted tho, and we are binding into a purchase agreement should there be special wording in the contingency for protection?

Could you handle it if the HOA decides to bump the HOA fees next year or hit you with a $3,000 special assessment to pave the parking lot and replace the roof?

Often times the local banks will have promotions/specials for limited periods of time - you could get lucky and find one that has a lower down payment for an under 4 unit non owner occupied.  

Adam, I have an associate who specializes in these types of assets.

Due to the extremely small lot size (.3acre) and a small stream running through the backyard - the state approved a special 4 bedroom septic system design by a professional (after months of working with the state and with 12 state rules broken), but was denied approval for a multi family/duplex septic system design (after months are trying).

@Jerry Hernandez reach out to the local investor community to see if there are any that specialize in mobile homes.

If there are special rules for this your CPA will know.