Either look out of state for the something like the brick 4plexes built in the 80’s that look the same 40 years later.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

The later is critical to protect your investment.

Unfortunately, I did not know the full extent of what I have later come to hear and learn.

If it were me, I would like consider refinancing only 1 of the 2 properties now and considering the second later in 2025 or even early 2026 when rates potentially soften.

You could potentially tap into your existing utilities but there are other considerations that might make it worth separate utility laterals and services. 

(Yes it still happens, but it is a lease violation, and we have a solid leg to stand on should we need to pursue eviction or collections later.)

Months later, Tenant is now claiming close to 10K.

Later on in your investing journey the safety and low management of expensive, appreciating properties will become appealing.

It only takes a few minutes to comply, and this way, you don’t have to worry about any decision they finalize on later.