Combining Residential Units?
Hello,
Need some guidance on a possible investment of a 5-plex residential unit. Interested in purchasing and then combining two of the units to make the property a 4-plex and then reselling.
We are aware of the zoning/building requirements in the locations of interest. Our main question is about tenants. Should we purchase a property that is vacant for the easiest/quickest transaction? What happens if the 5-plex has tenants? Are we able to require that tenants vacate after we become the owners.
If anyone knows a good book on the subject or has any knowledge in this area, I would appreciate your feedback.
Many thanks...
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