Also, good call on the potential rent control- I will research that a bit further. 

Buy at a discount given the lack of building potential and can always pass that discount along when I sell.2.

We are willing to provide additional documentation to support our request and discuss any potential steps to ensure a smooth and fair process for all parties involved.Thank you for your attention to this matter.

For first-time investors, neighborhoods like Riverside, Murray Hill, and North Jacksonville could be good places to start, offering strong rental demand and potential for growing neighborhoods.

Besides the higher down payments, higher interest rates, and potentially shorter terms on commercial loans (all easy to underwrite with a couple calls to lenders), commercial deals in the 5-20 unit range are not much different than a 4 unit.  

Certainly from a capital raise perspective, $5 -10 million is a reasonable amount.That being said, raising capital for a blind pool fund is much more difficult than raising capital for a syndication where the property is already identified and the potential investors know exactly where there money is being invested.

Owner occupied loans have allowed us to purchase properties in markets with heavy appreciation, and potential for huge rent increases.

On the other hand, if the sisters came in and took all his stuff and he had not given you permission, you are liable.One potential solution if you end up having to go through eviction is to tell the family when the constable / sheriff comes to have their stuff removed. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

A good mentor will help you evaluate things and identify potential hurdles before they come into play.People fail because they think it's easy without understanding what the difficulties can be.