The reason for waiting 6 months is because you will need new appraised value.When you're moving from an SFR to a Multi-Unit you need to have an iron clad LOE (Letter of explanation) especially if the unit is smaller.

Ironically, I'm sitting there finishing up a sample document for a 5-figure audit and getting stuck on Microsoft Word's damn formatting issues.

It is ironic that the "elite" program costs as much or money as it would take to get into Real Estate. 

You don't go out to eat when you already have filet mignon sitting in your fridge at home ... just have to learn how to fire up the bbq.

Neither one is iron clad, though, and neither one is completely worthless.The other protection you want, however, is protecting the assets in the LLC from your personal liability.

As ironic as it sounds, if your lease did not specify this topic, you may be at legal liability for unnecessarily withholding the tenants deposit if he satisfied the terms of the lease (if there was one)...

If your lease agreement and addenda is iron clad, it makes no difference how educated or savvy your renter is.

Ironically, I live in Hawaii and am looking to get into the Pittsburgh small multifamily space.  

They don't like to share their money for more than 6 months although some are starting to loan for up to 12 months but I'm guessing the points/rate will reflect giving you the money for a longer time.We have used Iron Bridge Lending out of Portland, Oregon and Fund That Flip out of New York.

We have a great craft beer scene, tons of great parks and free attractions, amazing restaurants, nationally-renowned BBQ, the best zoo in the U.S., affordable housing, lots of investment opportunity, and plenty of Fortune 500 HQs are located here.