Don't grill me too hard.I own three rental properties, one is my primary residence with an apartment (5 units total between 3 properties: 1 airbnb, 2 medium term healthcare leases, and 2 long-term rentals).

It really helped us get a better interest rate on the property and typically allowed us to put 10-20% down since we were buying the home to be our primary residence. 

Yes I understand what you are noting, and I believe on the commercial side of things they are typically not putting their names on the docs like you do for a resi loan but just brokering/underwriting it and collecting a fee as a 1099.

If you can find a fixer at a good price, with room for an ADU, and the comps are good, then you have a deal.Are you planning on flipping or long-term holds?

That will typically generate a response from the PM to negotiate a settlement and avoid an investigation.

Unlike refinancing, which involves taking out a new loan, recasting keeps your existing loan terms—including your interest rate and loan duration—intact.

As a SFR investor for over 15 years I have been wrestling with this question in the past, because it feels like you should upgrade to "bigger".I know for sure that I would not enjoy the ownership experience that comes with a small 4F, because in Milwaukee that typically also means lower income tenants. 

@Rory DarcyRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

You won't be able to use conventional financing and must use a non-recourse loan which typically require 40% down.

I see many situations where one generation wants to buy out a prior generation or, more typically, siblings.