You aren't prepared to go "all in".So, no money, no willingness to convert equity to money, leaves him with nothing he can do for you.

Your tenant sounds like a good tenant otherwise, but you should be sure that your jurisdictional rules changing from a term to M2M do not change in a way you are not prepared to handle.

Hi BP,In preparation of talking with a local realtor about a triplex I found, I wanted to know in addition to the below questions, is there anything else I may want to ask?

From there call the sec8 authority in that area and ask if they need more properties, and prepare for the laugh.

You need to be well prepared to do fix&flip model.

You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year, not just when preparing your tax return.

It sounds cheesy, but the best way to prepare is to work with a friend or two and role-play.

So when you go you will be better prepared.You may also get to see some attorneys and if you decide to hire one, you will see which ones actually go to court, which ones are prepared and worth their money, etc.   

The owner portion is enjoys homeowner capital gain exclusion, the rental portion does not.So it all depends on how you prepared the taxes for the last three years.

For example, when pha slaps you with a surprise inspection cause their system "forgot" to send a letter and then issues a 24 hr repair notice cause one outlet in the house does not work but they send that notice an hour before they come to reinspect lol, a $7k course is not going to have prepared you how to get an electrician the same day.