The land we are buying also has secondary value to future expats moving there.  

If you use the Heloc option and decide to rent it out, don't forget that property (or you) will have to cover both your primary and secondary position notes.I don't personally see Marin being a great mid term market.

Putting aside AshCracks utter disdain for the LP investors, anyone willing to invest with them, FUND 3, given their current/recent track record needs to visit with a psychiatrist and also an elementary school math teacher to start with. 

I like using these for just this case.Another item to consider is since this is a 2nd floor I wouldn't be that worried since the 1st floor will heat the 2nd floor enough to not allow frozen pipes.I would also talk to an HVAC person because I believe they can also put a device to cycle the heat a few times a day or even put a secondary thermostat in the apt to take care of the minimum issues.I feel for you because otherwise you have a great tenant.

Most lenders are capped at 75% LTV on a cash out refinance, so something to think about while you do the math.

For quick math you'll need something to the magnitude of 200 units, call it 16 millions worth of multi-family.If you are looking for cash flow, maybe consider buying a business instead of real estate.

I am not sure how much you get involved but do your employees contact the realtor and discuss market rents, do the math to check leases versus market rents and which lenders use the "lesser of the two".Closing in an LLC versus personal name can also add a rate hit as well as Escrow or No escrow.

The devaluing of those notes by fixing the interest so low seems to be the real kicker that made the fund's intrinsic value decline, performing or not no one wants them on the secondary market.

An ADU is a secondary dwelling unit located on the same lot as a primary residence.

Pretty easy now lets say the doors are 100k to 300k each.. again simple math 100k X 200 doors is 20 million and 300k X 200 doors is 50 million..