Everything I'm finding says 27.5 years due to it being rental income but others say 5 years because it's an RV.

Im a huge fan of themI think both - they will bridge the gap with middle-income renters and also appeal to the higher-income bracket.

@Clinton Davis The Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) have been reinstated after a temporary injunction, with initial reports now due by January 13, 2025, for companies formed before January 1, 2024.New entities formed after January 1, 2024, must file within 90 days of creation.

Did a 125k upgrade to unit, but now need to make income.  

If your firend wants to stay in the place AND has the funds/income to do so, they need to refinance in their name ASAP (as part of the process), not 5 yeas from now, not if they remarry, not 10years from now.   

The rates are high right now but these loans are limited based on cashflow so you cant take a loan that costs more than you're receiving in rental income.

Quote from @Mordechai Chaimovitz: Can someone please explain to me why people are buying 2 flats that rent comps show $4,600 a month in income for 665k+?

They're highly popular for turnkey rental properties because qualification is primarily based on the income generated by the property itself rather than the borrower.

At that time, my friend encouraged me to get into real estate with the idea of creating passive income and wealth in future (via appreciation).

Lost Income- normally 18 to 24 months.