Each closing, whether multi-family or single family, is going to have some of the same costs: title insurance, attorney fees, inspection fees, appraisal fees, fees associated with financing, etc.

class action is what you see on TV  unless there is insurance money to go after you guys are going to have to pay a LARGE retainer to engage an attorney.. and if your deposits are only 40k or so Suing is a waste of time and money for any litigation that small

Chances are you have someone with honor transparency and integrity on your hands and that is very rare.If the answer is no... well, if he lied to the homeowner, why would you think he would not lie to you?

Payment to the bank is $4,311 (includes escrow/insurance), total monthly rent $5,600, which leaves me roughly $1,300 monthly after expenses.

CA has it's upsides and both states have insurance issues.

Do they have insurance and property tax reduction reports in their study?

The biggest differences between residential and commercial:  Scalability, financing are very different, property taxes may be different, Insurance is definitely different. 

That is just the loan payment and doesn't include your insurance and taxes like a typical mortgage payment does. 

Hi Everyone, want to introduce myself. My name is Dina, I live in the suburbs of Chicago. I have bought and sold several properties across Chicago and Barrington area over the past seven years, and was a real estate a...

The mortgage was also raised due to insurance issues to about $1,950… so I am not making much cash flow, more like a cash trickle.