At 1031 Capital Solutions, we have daily conversations with landlords contemplating selling their rental properties, many of which are single-family homes or small multi-unit residences.

A buddy of mine, who’d been eyeballing a small multi-unit in Tucson recently, nearly forgot to factor in the HOA’s special assessment fee.

Details on the duplex:Price: $385kBuilt: 2012Size: 2674 sq ft (1333 each side). 2 story, 3B/2.5B each side w/ 1 car garage & driveway for both, fenced backyard both sides.Interest: 5.49%PITI: $2,698Current Rent: $1,350 but could be brought up to ~$1,600, maybe $1,700Yearly Property Tax: $8,340 (I don't pay any on my side while I live there so $4,170)Upgrades: Vinyl floor in kitchen of both units, new AC (central HVAC) on vacant unit, roof done 2016. 

Personally, all of my units are full and have stayed full, no one is even late with rent much less behind, and no one is moving.

Imagine if he does a perfect install job, but the unit catches fire anyway?

The small multi family space (4-20 units) seems to be less crowded, but those deals can be hard to manage unless they’re within a couple of hours from where you live so you could manage or turn it yourself if you had to. 

I'm currently selling a 16-unit apartment complex.

Investment Info:Large multi-family (5+ units) commercial investment investment.

To navigate this, consider options like keeping your current home as your primary residence while house hacking a multi-unit property, using the HELOC funds strategically before moving, or exploring alternatives like a bridge loan or cash-out refinance.

Our portfolio is running around a 4% vacancy right now, but that's across 300+ units.