absolutely walk into the planning department and talk with them.. they will whip out the code book copy the code for you and your good to go.. we all rely WAY TOO MUCH on the internetPS I just spend 3 lovely days there looking at my new builds and everytime I am there I think Crap if I was 30 years younger I would move there.

Which translates to a cap rate of 2% at the most ( assuming the property is paid all in cash )What does this say about the market/neighborhood I am looking into ?

While you can capture long-term capital appreciation, you will end up relying upon it to make your nut.For my own money, I invest in rental properties elsewhere.However, if you're the type that likes rolling up his sleeves, this is a great buy-and-flip environment. 

@Raquel Olonde with cash you should be shopping in the discount isle (from wholesalers).If you don't know the market, relying on an agent to point you in the right direction is problematic.

It's over 1% per month which translates to a 12% annual rate.

You need to rely on someone who can ascertain the whole story on the loan to make sure.  

If you are elderly, looking to retire soon and need to rely on this money in order to live comfortably, DO NOT RISK THE MONEY.  

This is who you are purchasing from, and this is who (especially the PM) you will rely on to maintain your investment. 

I don't see any reason not to give her a try, but do NOT rely solely on her estimate, comps, etc.

I would love to be able to translate these general problem solving skills to what I feel is building up to be my new passion- real estate investing.