And this might indeed require some time to pass before doing that.You could still create a single member LLC with either you or your wife as member. 

In this scenario, you might even walk into equity when your project is completed. 

A structural issue like this - even resolved - can hurt the value of your property.

Things just require more ongoing expenses percentage wise out of state because you have to pay people to do everything for you and you will have a longer time building relationships with vendors even when getting decent referrals. 

I have one single family rental now.

Don't even get us going about S8 tenant retaliation via abuse of utilities!

@Rickey Mayes even if you buy a condo as a primary residence, alot of them will require 25% down if they do not have reserves and meet full review requirements.

I need a new policy for my single family rental, can any one recommend a insurance company?

But applicant 2 did not provide any single residential address in application saying he travels 85% of time.

Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont?