Quote from @Andrew Syrios: Make sure to swing by the MAREI meetup groups.

This will make it a lot easier to manage, will cost you less than buying on the market and typically you can get 1:1 rent returns.

How do you figure out who you can trust to handle your money?

The market still has relatively low entry points compared to other major cities, making it possible to find multifamily properties like duplexes and triplexes in the price range you’re targeting.

Im not sure how far RWN should go to make things right as of course not doing your own inspection and appraisal is pretty stupid.

Driving relevant traffic to both a website and socials is hard without throwing some money behind it.

But ya have to make some educated prognostications in life.Add this to the information your processing - What your talking about doing is eliminating around $4000 or interest expense (which is deductible anyway so really could be a real impact of eliminating $2800 or so) of debt in exchange for paying over $10K in capital gains tax (don't forget possible state gains tax as well).  

I agree with @Becca F. that hard money rates scare me.

You'd also need to establish a budget, and secure a master insurance policy. i THINK you need to do these things before reaching out to your municipality to have it converted officially with the county or city but they would be the first ask for steps in order.i will add, this would make financing on these units a bit challenging, as in the mortgage world, at least initially, they would be considered "non-warrantable" condos.

Many people are only making $50k or so on $800k-$1M properties.