Once you’ve got some experience and equity built up, you can more confidently move into multifamily properties when the right one comes along.That said, if your goal is to scale into multifamily, don't lose sight of that.

Don't get sucked in to borderline applicants, make it as black and white as you can so you can approve or turn down with confidence. 

How confident are you in your numbers?  

are you confident in the use case for the building or are you planning to repurpose to something else?

You can always form the LLC once you are under contract and are confident you will be proceeding with the purchase through a novation.

Safe travels

So long story short we have a traveling nurse staying at our rental that got some water damage when the roof was being replaced, they don't have renter's insurance (which we require in the renter's agreement they sign), water damage has been remedied and is cosmetically minimally affected and still very much in a liveable state.

Over the past 10 years, my focus has been on building a business consulting company, but travel has impacted my young family.

If you have the POF to close on it all cash, you should be able to finance it with a hard money loan and give confidence to the seller that if the loan does not get approved you can still buy it with your own funds. 

We're here to answer any travel or planning questions.