People ignore that for the same reasons they ignore the odds on playing the lottery - they want lots of money and they want it now. 

If you played your cards right you may even cashflow upon moving out because you will now rent the space your were living in.

Not sure how that is me playing the victim...Seem to be a lot of defensive and confrontational PM's on this thread. 

The rapid rise in interest rates have caused somewhat of a mess for multi-family but that damage is likely already in the past (but not played out yet).

In those cases, the taxes could redistribute from larger buildings to smaller buildings (4 units and below).I own a lot in Middletown and surrounding areas and would be happy to have a conversation with either of you if needed so you know how to play the game.

OR you'd have to do 2 separate transactions and incur 2 sets of closing costs/ transactional costs. i dont think its a bad play, a lot of people leverage one to help them expand to the next. another challenge you will have, though, is pulling something small like $50k out. most lenders rn have a $100k min. you might be able to find less but then fees/ points will be a little excessive. 

They are playing poker with a $hit hand and I know it.  

Anyway, changing my insurance policy to a landlord policy seemed like the right play since I had tenants move into the property.

Then the time cycles usually come into play. 

I have spent so much time on houses - remodeling and dealing with tenant issues--instead of  playing with my kids.