Boston REIA · Local investing guides
Massachusetts Investor Due Diligence: One Shared Property Reference
The general checks, in one place
Use this reference alongside the city guides. It contains the acquisition steps shared across markets, so each local guide can concentrate on its own rules, projects and property settings.
Obtain the legal-use and tenancy file
Collect the deed and parcel identification, available occupancy and permit records, leases, deposits, notices and correspondence. Reconcile the advertised apartment arrangement with the physical building and municipal record. Have qualified local counsel address tenancy and transaction questions that affect the planned work or exit.
Lead records belong in the acquisition documents
Massachusetts' Lead Law addresses lead hazards in pre-1978 homes where children under six live. The State also publishes separate tenant and property-transfer notification requirements. Obtain available inspection and compliance records, and price the applicable scope with a qualified professional. Do not treat avoiding families with children as a compliance strategy.
Separate an operating budget from a construction budget
Use actual rent records, bills, tax information, insurance terms and known service contracts to describe the building as it operates today. Put proposed extra units, a different rental model and unfinished improvements in a separate project case. List construction, professional fees, vacancy, financing and the period before the proposed income begins.
Inspection scope follows the building type
For a small multifamily, include shared circulation, roof, heating distribution and exterior components. For a condominium, add the declaration, budget, reserves, assessments and allocation of repair responsibilities. For a former commercial or industrial shell, commission early layout and environmental review suited to the intended occupancy.
Use the right municipal document for the question
A planning study explains objectives and context. A district map locates an area. An application describes what is requested. An approval states a decision and conditions. A permit and completion record document later steps. Save the relevant record and date so that a proposed project is not accidentally represented as occupied housing.
Records used in this guide
Linked records support the local facts above. Purchase implications and viewing suggestions are Boston REIA editorial analysis. Project status and municipal requirements should be checked against current records for the address.
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