Lessons Learned: I should have transitioned to larger commercial deals sooner.

@Andrew Rodriguez  That statement you made , and that alone would tell me to run away .    

•Likely, the new property wouldn’t be cashflow positive due to the market conditions.2.Upgrade to a Bigger Property and Sell•Sell our current home and move into a larger house to better meet our family’s needs.• Use some equity from the sale to make this transition smoother.I’m torn between maintaining our current home as an asset and buying  a new smaller house to use as a rental after we move back in versus simplifying and focusing on a single upgraded property Considering factors like market trends, potential equity growth, and quality of life, which path do you think would be most beneficial?

You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.

Heating costs can be a killer on larger buildings with central boilers, especially in colder climates.

From my experience investing in mid-tier and luxury hotels much larger is you need about 70% to make ends meet, you start getting happy about the investment about 80% and around 85-90% you fell like you are a genius. 

CORRECTION from above statement(s): Many Lenders will NOT require you to be a Personal Guarantor of a loan your partner gets.

@Kenny BaoTypically, larger properties are sourced through brokers.

He is 69 and does not want to reinvest (1031 exchange), which leaves me having to make a much larger investment on my own to meet the 1031 requirements which is more than I’m willing to do at this time.

That unit with the waitlist is the only pet-friendly home (duplex) with a fully fenced-in yard accepting more than 1 pet, including larger animals.