1.)wholesale a house with unpermitted rooms or additions? Yes or No?
2.) pros and cons of wholsaling FHA homes?
1.)wholesale a house with unpermitted rooms or additions? Yes or No?
2.) pros and cons of wholsaling FHA homes?
Yes, don’t sweat it, your end buyer or flipping investor will demo or re-configure as required. (Disclaimer or Disclosure as required.)
It does not matter whether you buy FHA or not, once you buy it, it’s no longer a FHA, VA, or Conventional property.
It’s only a problem if your buyer requires you to declare the property is zoned for its current use.
That being said I don’t like them because all the un-permitted stuff I have seen is a hack job and that’s only what I could see on the outside. I have no idea if the plumbing or electrical is up to code. I know of one home that burned down due to an illegal wiring job to un-permitted addition. The insurance company denied the claim and the tenant had a nice claim against the LL.