Hey @Patrick Murray, so you didn't know the codes regarding this sort of unit before you pulled the trigger?

@Engelo RumoraI have evaluated multifamily deals but never pulled the trigger, When i see sponsors paying themselves 600k from the raising because they vetted tens of deals makes me squirm.

If you meet the holding period you will only pay LTCG (long-term capital gains) on any growth.RSUs - A bit simpler, when your RSU shares vest they will move into your brokerage account and that will trigger income tax on the value of the shares. 

I think the biggest thing I learned from this is not to pull the trigger too fast on buying a house.

Do not pull the trigger on this building until your team is in place. 

The market has been very difficult to enter the last few years but I’m hoping with the help of bigger pockets I can finally pull the trigger on my first property.

Get a great Realtor Get a great contractor with real estate knowledge also pull the trigger. 

Thanks Yes, worrying about the due on sale clause is a valid concern, as it could potentially trigger the lender to call the loan due in full upon transferring the property into an LLC.

. - One possible solution would be to keep the existing boiler/baseboard system for backup and/or use in extreme cold (possibly triggered by an outside temperature sensor).

You also have access to the co-op's financials, board meeting minutes, etc. before you decide to pull the trigger.