Quote from @Jaycee Greene: Unless you already have a capital reserve fund that will pay for unforeseen, major expenses, like a new water heater, roof, or A/C unit for example, I'd keep the profits in the account until it can cover 6-12 months of operating expenses.

Investment Info:Large multi-family (5+ units) buy & hold investment.

Investment Info:Large multi-family (5+ units) buy & hold investment.

So typically 5 units or above.

I have four units just like this and have a decorative fireplace is not an issue, at least in my area.It is quite standard in rentals to not offer a working fireplace for cost and liability issues. 

My company owns about 3,000 MF units, along with some retail, industrial, and Assisted Living. 

Third unit is a studio/efficiency that I will live in. 

Investment Info:Large multi-family (5+ units) buy & hold investment.

Investment Info:Large multi-family (5+ units) buy & hold investment.

Everything I've purchased personally, including a recent 4-unit purchased last month, has been heavily cashflow negative initially and it usually takes a good amount of work to get it to cashflow or break even within a relatively short period of time....6-12 month approximately.