It is effective Aug. 1, 2024.This ordinance is referred to as the Source of Income Discrimination Ban Ordinance" - which is identified in File #231019 and amends sections of Chapter 38 (Civil Rights) and Chapter 34 (Health and Sanitation) in the Missouri Revised Statutes for the purpose of classifying source of income as a protected trait in regard to housing discrimination.Here are some key takeaways from the attached ordinance:This ordinance bans discrimination against tenants based solely on:Source of income from an occupation, including gig work or paying rent in cash Use of public programs like Section 8 Housing Choice Vouchers, disability checks, or social security Poor credit score Prior evictions and alleged damages older than 12 months (less than 12 months can be a basis for denial) Prior convictions or arrests (sexual and violent crimes are excepted, a landlord can still deny based on these convictions)The ordinance also requires the city to proactively scan for rental ads using discriminatory language like "no Section 8" or "no past evictions".Landlords who are found to be in violation of the ordinance with respect to source of income can be fined up to $1,000 per incident.

Our policy prior to showing or exploring 5+ unit investments is to have a dedicated or strategic lending partner fully qualify buyers with a clear and concise overview anticipated costs and timelines. 

The method selected on prior Honda doesn't impact this. 

>"The numbers" from a cashflow standpoint will mean different things for different people.I bet the people of Detroit prior to the grear recession thought the same thing   Last I looked their residential rents still had not recovered from the Great Recession.  

The unfortunate situation that many of my clients have faced prior to coming to me is that their smaller property manager was bought out by a larger corporation, and consequently their services were diminished. 

Is there a comparable service that charges a reasonable flat fee for sending the letters to the prior tenants, and then reporting the unpaid obligations to the agencies? 

If you move into the ADU, do so prior to placing someone in the primary.  

The prior owner's agreements with the tenants are as legally binding as it would have been with your signature on it.

I have this idea floating around to build an extension on the property or a separate ADU and finance it myself prior to refinancing, but that might be a bold move this early on in my REI career. 

view=publicIt's a 3 bed 2 bath house, almost 100 years old, and the seller made a bunch of updates to the house (fixed roofing, foundation, re-ran electrical wiring, redid flooring, and interior paint) prior to me moving in.So far, I've added a dishwasher to the place, and here are my thoughts as far as other "value adds" go, but I don't want to invest the money if you guys and gals don't think there's much opportunity for a return on it...