Always make sure to subcontract any work related with the units (i.e. hire a cleaning person) and try not to provide breakfast, as this will turn the activity into ordinary instead of passive.For a multifamily, as long as 80% of the units are rented on a long-term basis, then the income is considered passive, hence no SE tax involved. 

If you choose to pocket the check instead of fixing the damage, it's no skin off their nose.  

That, coupled with the extra carrying costs means our profit now is more like $60k, which is a far cry from the $150k we thought we would get.So we're taking this one on the nose a little bit.

Its amazing to find all the connections that are often-times right under your nose! 

According to PennDOT, a guy with a regular license can legally operate a vehicle of up to 26,000 lbs.Assuming the law and its limits stay exactly the same and don't change to benefit the changing interests of very wealthy people and industries historically flush with cash while sticking it further to the weak, poor, and helpless (which of course never happens in America the Beautiful), that means that Pennsylvania cargo carriers will in the near future be able to pay an unskilled worker less than 1/4 of the going rate to take on reliably more than 1/3 of the typical truck load handled by a well-paid and experienced trucker.So I am rather certain that one of the first things that is going to happen is that we're going to see more smaller trucks controlled by autonomous technology with minimally paid people behind the wheel just watching the technology do the work (perhaps while they do a second unskilled job on their tablets) on all roads moving more and more cargo, while there will be a decrease of larger load carriers with expensive drivers on roads that allow trucking traffic.So if there's a road that goes over a bridge that typically has a lot of commercial tractor-trailers going over it in and out of a big shopping development primarily accessible by the bridge, I'd expect to see fewer large trucks on it and faster pickup on the smaller trucks going over it, which would increases the rate of traffic and would likely improve congestion along that artery, thus making rental properties on the less desirable side of this bridge more easily accessible by people who who don't want to pay out the nose for rental properties on the more desirable side of this bridge.

34 units out of 300+ is a fractured condo deal.

This is actually a false step, because if you've played it smart and kept your nose to the grindstone, you'll probably end up actually doing this naturally somewhere between Step 3 and Step 5.

Long time no see, I thought it was about damn time we spoke about our fine (but unfortunately forgotten!)

My properties were all bought at reasonable valuations that generate not only high current income after ALL expenses (including the most aggressive tax depreciation that makes sense from a cost benefit standpoint), but also vastly superior long term underlying appreciation potential over properties purchased at nose bleed valuation levels "in the hope" that the great fool theory will always be present to make it right.

I am ok if I had to front that cost for a few years in the event the market took a nose dive.