The beauty is that you can easily change your mind on this issue in the future.

New construction is also a solid option because everything’s brand new, and you’re less likely to run into issues with maintenance early on.As for research, I’d focus on the local economy and rental demand.

A contract developed 10 years ago might be outdated in ways that will cause you an issue.

By now you have read all of the Syndication failure issues.  

Use a promissory note drafted by an attorney to outline loan terms, including an interest rate that aligns with IRS Applicable Federal Rates to avoid gift tax issues.

@Jamie Banks The issue is as far as I know almost all Leases when ALE types of companies are involved the  insurance policy holders are listed as the tenant.

Hope no fire hazards or code issues or noise issues or electric shock etc. by doing this project.

distributions.  

For older properties, expect a higher CapEx due to potential issues with major systems like roofing or plumbing.

However, I think your bigger issue is going to be putting 5% down on a small multi-family.