Thank you so much for all the added expertise! My wife and I decided to switch from an FHA to use a conventional loan for a 3 bd/2.5 bath condo. All our cash would have gone to the multi-unit, so we (I) decided that I wanted to have some cash available if necessary. We plan to live in it for a bit to fix it up, then rent it out. It's a great location and others in the area are selling for about 50-70K more. The property could use some upgrades (kitchen, appliances, carpet). We put in an offer, so we'll see what happens. I definitely still want to get a multi-unit, but feel like I may bite off more than I can chew. Also, again I want to make sure I can actually afford the multi-unit I get and not be stressed about paying the mortgage.
I also don't know how to calculate the atv after upgrading the property, so I certainly need to learn how to make sure the numbers work. I hope that makes sense!
