Right now, there is a TON of Multifamily being built all over the metro, and if you aren’t familiar with the area, there are some interesting shifts that are happening just over the past 6 months in single family—I’m not aware if those same changes are translating to multi.From the people that I have talked to, occupancy rates are leveling off and competition is causing some rent compression to happen.I listened to a great episode of BP yesterday—show 301 with Alex Felice on long distance investing—, which summarizes the resounding thought in this forum “you want to convince people that are better than you to deal with you...so they can bring you up”Not to totally go into the Tule's  however back in the 80s as I stated there were two distinct factors that happened to syndicator I worked for and for my retail clients trying to relocate out of DFW.One as stated houses there just did not really appreciate and many folks were a  tad under water.. and the banks there simply don't let you walk away .. they will and did sue homeowners for deficiency judgements.. unlike as I stated west coast deficiency judgements on purchase money first position owner occ are against the law.    

Vet and put together your team and set a clear and distinct plan in place as well as everyone’s roles and responsibilities.

(As distinct from a capital call with dilution implications.)Again, my interest is not in a particular situation, but rather what others like to see in their agreements or wish they had in their agreements.  

Worcester has a bunch of distinct quality rental groups. 

So, using a neighborhood-level datasheet would mesh those distinct localities within the neighborhood generalization.

I mean, there's more constants with SFH, where as in multi's its kinda, well like you said- amorphous blob LOLplus, as far as commercial goes, is there even a distinct niche within that property type?

The last part of the story is that these properties have appreciated substantially.Two distinct questions come in this regard:1.

There is a distinction on lending criteria between 1-4 units which are residential and 5+ units which are commercial.A residential loan, you typically get 15, 20, & 30 year fixed terms.

Important distinction - while a HRL may not report your outstanding liability to the credit bureaus, every time you apply for credit, you have to provide a personal financial statement which lists all your assets and liabilities. 

Also, when we bought the properties, even though they were two separate property parcels, the interiors had been converted into one space, so we "uncombined" the units so they could be used and sold as distinct properties again.