The agencies require all properties be - on average - 90% occupied over the prior 90 days (IE - the property needs to be 90% occupied on average over the trailing 3-months leading into quote / commitment).

Property management - maybe 3-4k/year.

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

Have recently started a renovation company with a friend, both of us successful business owners and talented in the trades.

Buy quality properties in quality areas.

Not exactly sure what Safeguard does but if they are originating notes for owner occupied properties then they need to follow the Dodd Frank rules and anyone buying such notes should make sure they did.  

but you will have appreciation and equity paydown, but so would any property you buy with financing.  

It justifies the property selling for greater than just market appreciationI do owner builder rehabs but sometimes use contractors for large work scope or scope beyond expertise.  

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Bronx.

Purchase price: $640,000

Cash invested: $220,000

Purchase price $640,000
Got it at this price because there is a no...

We do the leasing for them, but once we get the tenant in place, turn it back over to the owner to manage.