(The power company in MN will offer you a chance to buy the warranty after the furnace/ac is broken and come back the next day to fix for free.)

Remember, if you sell it, you'll have capital gains that you will have to pay since you are buying the other property before you sell you're old house.

I primarily invest in buy and holds, but I do a little bit of everything including fix and flips, airbnb's, mid-term rentals, and wholesaling.

So you can buy a four flat, live in one unit and rent the other three, but you have to live in one unit on the site. 

The moment you buy an investment property, start a side hustle, or even experience a major life event (marriage, kids, inheritance, etc.), taxes get more complicated.

I would buy more efficient new boilers and then solve for A/C if needed...

@John Lasheri agree with you, you'd be surprised at how many people listen to Grant Cardone though, and decide that they're going to go buy a 100 unit with 'OPM' as their first deal and quit their job.i think buying something of that size with a few partners is a perfectly good goal. 

It assumes the property is Class A - which not a lot of investors are acquiring these days.Here's some copy & paste info about property classes:_____________________________________________________________________________Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Joint ventures entail utilizing your own money to buy properties with others.