(His profit is in the entry fee) He owes 3 months missed payments and I offered to catch up the arrears, bring the loan current, and take ownership.I myself own and operate 13 units since 2017, and I’d say I’m a good operator.Anyways, the issue is that now the bank/owner has been notified of non payment, and while the seller is telling me everything’s fine between him and the person on the note and all, I know that the bank has eyes on this account now. 

Tenant was acquired with property upon closing(they have lived in their unit for 2+ years with on time payments).

Thanks for the replies - going to try a different number first, then I'll be at my property this afternoon to work on my empty unit so I can try knocking on the door myself.locally we have a 5 day notice for non-payment as well, I'm definitely trying to stay ahead of the curve on my local regulations, great call-out!.

In a market like KC your $300,000 would get you a $1.2mm purcahse which would be 10-15 units depending on the class and location (could be a bit more or a bit less).

This maximum rate is determined by adding 2.50 percentage points to the yield rate on long-term government bonds as published by the Federal Reserve Board or the United States Treasury, or both.

The latest ordinance I find still states rent control only applies to 4 units and above. 

When you say multi-family, are you thinking of buying a 2-4 unit?

Investors focus on adding Accessory Dwelling Units (ADUs) to increase income streams.

I put a listing together and just said I was in the process of filling the unit.

@Nick Cooper you can buy with as little as 15% down on a single unit property with conventional financing.