Not something I would personally lean towards, but just want to hear other opinions and feedback.This individual owns a little over 1,000 units and once he refinances and returns back most or all of his investors capital, the equity structure changes from 80/20 to 70/30, and sometimes even 60/40.

Or all the newbies, who declared themselves wholesalers, when they had no idea about renovation costs.

Must be something fairly unique causing this or all blinds would be returned.

And when you sell some or all of the gain is tax free if you live in it long enough. 

If it's CF, yes multi-family is the best way to go.. but instead of NJ, check out like KS, or AL-- look at things like that tax rates/classes/etc and see if long distance investing can work for you!    

Do you know if this shows the properties currently on the market, or all multi's in town?

@Vickiel WoodardFirst, congratulations on taking some VERY positive steps under difficult personal situation.I would guess from your post that you have some expenses to incur for repair, rehab and carrying costs, before you begin receiving income.If your intent is to hold as rentals for good cash flow, a fix n flip type lender (where most SFR investor lending is available), will probably not be interested unless they believe you plan to sell after rehab.As you stated, you won't qualify for a conventional or institutional loan, not only because of credit but also because of loan size.The suggestions made by posters so far are some version of(1) sell as is one, two, or all(2) sell one and use proceeds to fix up other twoNot bad advice, depending on your goals.These lower end houses will sell for a VERY low price in relation to their rental income because (1) tenant types will most likely be a problem or at least be high maintenance, i.e. chasing them for rent, high turnover, life crisis, employment problems, etc, and (2) unless area undergoes gentrification price increases will be non existent (3) effective outside property management is probably not available.So, if you are able and willing to manage the property and tenants yourself, keeping the properties as cash flow rentals can be a VERY lucrative activity.I would find an experienced contractor, and talk him into either (1) partnering with you by providing his services as a contribution for buying an equity interest in the houses or (2) accepting a lien on the properties in lieu of immediate cash payment to perform the necessary rehab and either making monthly payments to him to pay off the lien once the units are rented or paying him off by refinancing once the properties are rehabbed and income is established, though as mentioned a loan would be somewhat difficult to accomplish.An alternative is to attend your local REIA meeting, and discuss a partnership with some of the more passive investors.BTW, are you paying typical credit card interest rates of 12-24%, or did you get an introductory deal giving you a low or no interest loan for 6 -12 months?  

It may be your noisy neighbor is a Board member, or friend of, or the Board is not interested in enforcing some or all of the rules that they are responsible TO see enforced.

In other cases, they split the water, electric, internet costs and inevitable arguments would arise, in some cases, causing one or all of them to leave.

If your own, I would at least factor in the cost of hiring it out so that you can be prepared to do that if you find yourself miserable doing it yourself.Are the utilities separate or all together?