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To add to what all cash said:
The best part about living in the same building is that you can quickly respond to their problems. The worst part about living in the same building is that you can quickly respond to their problems. I know that sounds like an oxymoron but think of it this way. If they can catch you coming down the sidewalk and corner you it forces you to do what they need then and there, you can't even take care of things on your own timeline. They don't care that you're late to work, they don't care if you're not feeling well, etc. I know you shouldn't ignore your tenants but some times its nice to let voicemail answer the call and it is something trivial that can be dealt with the next day. And the time you leave town for the weekend or are otherwise occupied and don't get a problem resolved in a few hours time they'll freak out. :roll:

Oh, and I would NEVER in a million years invite a stranger to live in my home. Rent an apartment in the building yes, in my living space HELL NO.

I know appraisal skills can certainly help and anyone can (probably should) take the classes for that. My question however revolves around the pros and cons of actually holding a license. How can a license help you or harm you?

Solar is coming down in price but still not cheap to install. I don't know that you'll get every dime back that you put into it (unless you've found a hippie with a bankroll). If it costs you $15k to install do you really think you can upcharge the house by at least $15k to make it worth your effort? You may want to wait a few years before considering it, last time I read an article about it they were mentioning new technologies and manufacturing methods that will greatly reduce the cost of the panels.

I live in CT and there's an empty hotel that is supposedly being considered for this type of project. How do they usually layout the insides of these things, a hotel room is rather small compared to a condo. Do they typically turn multiple rooms into each unit? I wonder how it would work out turning a hotel into efficiency apts rather than condos? The place by me is in Hartford right on Constitution Plaza if you know the area. It would be a prime spot for nearly any sort of office building, etc. I'm sure someone is looking to do something with it.

Sam-
I myself have always wanted a warehouse for myself as a place to live, they have a lot of potential to be something really interesting. I have an addiction to large fish tanks and the concrete floors are certainly very useful for people like me that are planning on putting thousands of pounds of water in their living space.

Figured I'd say hi since I have been reading a lot of topics here since yesterday. I've learned a bit so far but have a lot of learning left before I buy something. My biggest hurdle is going to be financing the first deal but I hope to get some insight here. Also currently working to get my FICO up some as well, its not bad but it could be better if I work harder at reducing some of my debt.

Just curious if most people here are doing things entirely in their name or if most have setup LLCs and corps to protect themselves. Seems that doing everything in your own name would be foolish but I'm curious how many are doing it. How do you have your company setup- corp, LLC, sole-prop?