Our investment to value (ITV) in the notes we purchase is usually in the 50-60% range, a significant amount of equity to protect our position and our private capital position. 

This defers capital gains and depreciation recapture taxes on the sale of your fourplex.After converting it into your primary residence, you may qualify for the primary residence capital gains exclusion ($250K single/$500K married), but only for appreciation after the conversion; gains from the rental period remain taxable.

It's not your fault that the tenant has to vacate, so the tenant should have insurance to protect them against any additional expenses.

I'm going to exclude my personal residence from this because I don't view this as an investment, I need a place to live.Excluding my primary residence my current breakdown is 47% real estate 53% stocks/cash. 

Interest rates and cap rates change, competition changes, your PM ends up being horrible, lots of variables.Just to throw you a monkey wrench, in your killer spreadsheet does it include the credit score, income, and employer of every resident? 

If not, you’ll need to resolve these liens, which could complicate the investment.Current Occupants: The family living in the property could be protected under Massachusetts’ tenant and housing laws.

It might make the most sense to just sell your primary residence and use it as 40% to 50% down payment on your future home. 

Quote from @Alyssa Dinson: Hi everyone, I live in California and have been meeting a lot of investors who prefer to invest out of state due to California being so expensive as well as the aggressive tenant protection laws we have here.

Quote from @Rory Darcy: Hi guys my name is rory, pretty new to this im an out of state investor residing in new york, looking to invest in wisconsin and illinois, currently looking to build my portfolio around multi family duplexes or single family residencies, would be great to connect with like minded investors or agents who can lend a hand.Rookie investors should not invest out of state.

Residency StatusWhile stationed in Germany, you qualify as a resident, which makes securing a mortgage easier.Even if you're not a resident, many German banks will lend to non-German citizens who can demonstrate financial stability.2.