Even though it is a 4-plex, it still falls in the same bucket with similar loan structures as if you bought a single-family rental. 

We bought and converted it ourselves.

They may be paying down your mortgage, but if you sold that house and bought a rental in a good area that cash flows...you'd come out further ahead.   

@Nik FarooquiI bought 3 properties at auctions during the real estate downturn in 1992-1993.

Arron, did you go out to Memphis before you bought your properties? 

In the past 8 years, I have bought 3 investment properties in 2 different states using 3 different loan types and they have been a great success.

They'll be bought by local members of the communities often to house their toys, be used as workshops, some people rent them out as storage, etc.  

I recently bought my first BRRRR and am trying to figure out what I should do next as I feel like I am a bit in a bind.

A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

Thank you.The general rule I go by, after flipping a ton of houses, is that I regret selling them now.If you buy them right (we’re an exception, as we buy at 7 to 15 cents on the dollar) and rehab them properly, you’ll get a ridiculous profit by keeping them, using strategies like the BRRRR method.Honestly, it doesn’t make much sense to sell them right away if you bought them right.