How to make my next move.

[Eric Mcginn]

Hello BP fam,

This is part success story / part seeking advice. And 100% complicated but that's real estate for ya. 

I'm from southern Maine, living in southern Cali for the past 8 years. About 5 years ago, every time I'd go home for holidays or whatever Id noticed a gentrification in a town neighboring my hometown and decided to go for it, a fairly complicated one for a newbie with a hard money loan, two duplexes, one condemned needing structural engineers, to make it simpler I demolished it (dealt with asbestos siding) and refinanced with local credit union. Then poured slab and ran utilizes and placed a single wide while I had grandfathered zoning to get at least a third unit. 

This is all done remotely! luckily I have friends and family and connections there, plus I'm handy and do it all so I'll come in for a long weekend and redo the roof for example. 

Two regrets are not saving the duplex and getting structural engineers, but that would have taken too long and messed up the financing. And not buying another one!!!! Ugh but I didn't have the time or resources. 

I dealt with inherited crack selling tenants and started evictions, got GREAT tenants and give them a great deal and set up cozy and it's been cash flowing nicely. 

I recently decided I want another in a different town and found a gem of a 4-unit, the quadplex that ends up being pre forclosure (thankfully one of my friends back home is a lawyer) and i get a killer deal for it. I want to keep my cash so I tell bank to take equity of my first deal. 

Appraisal comes back and I have $200k in equity!!!!

Bought for $70k believe it or not, owe about $80k now and it appraised @$283k. Super stoked! Used $40k for new deal down payment. 

But get this sweet little deal, I negotiated for and got back $15k credit for repairs. So I'm going there next week to get it sorted out and get the two vacant units rented. I honestly think I'll net some equity asap. 

Which brings me to my question, what should I do next. We Want to move back east, but maybe Boston not Maine. I think I want a fixer duplex to live in and hack. 

my two rental properties are owned under an LLC. My bank in Maine doesn't do residential loans in Mass.

Then there's the issue of our income. If we move then we have to leave our jobs. My wife will be employed quickly as a DPT but I'm considering spending more time on RE. Anyways, should we try to make this deal for a duplex before we quit our jobs and leave? People move, is there any way to deal with this with a bank? 

And then there's the primary residence part of it, I have my other properties under commercial loans, will I have to do the same to do it ahead of time? 

One other side note is we own a vacation rental here in socal at lake Arrowhead and might have a little equity there too, that's mortgaged as a second home. We rent our primary residence and get a killer deal for what it is. 

What do we do? When do I make the purchase? Can I use my equity for auction purchases if I line up financing? Thanks for any suggestions.