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Updated over 6 years ago,
Single Family, Multi-Unit or Commercial Property?
Hello BP friends-
Looking for input from you smart folks. I own a rental valued at $160 k. In preliminary inquiries, I'm told I can expect to be able to borrow 80% LTV. Assuming this, I now have $128 k. I'm wondering about the various merits of purchasing another Single Family Home,(advantage a multi-unit (free of any HOA associations, ideally), or a commercial property for rent to another business (not housing my own business). For the sake of argument, if all the properties are priced the same, can anyone speak to relative advantages and disadvantages of each property type? Cash flow chief among them. Perhaps relevant, I don't mind being a hands-on landlord in terms of maintenance, acquiring tenants etc. As always, with these questions, I'm wondeirng if I should give more detail, but for now will leave it at that. Thank you!