That should cover your scaling needs.If I am only buying, does the construction or working capital loan still apply?

. - then they lose thousands:(Here's some useful food for thought (copy & paste):.Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.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.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

@Richie Linnon if the unit needs renovation, which is likely with someone there that long, perhaps plan to give tenant 3-6 months’ notice as it will possibly be difficult and stressful for them to find something in their budget and they may need time to apply for and be accepted into assistance programs.

I had my existing tenants apply and pay the $110 application fee.

Take your Home Flipping due diligence approach and apply it to this model. 

As long as the Lease is in place, you do not need to return the security deposit, one of the reasons being, is that it can be applied to unpaid rent.

If not allowable, you would most likely have to apply for a variance. 

Also, if you can benefit from cost segregation, we do not know whether it will apply to the current year or to the year of acquisition.

My comments apply to the hospitality business in general. 

Generally "multifamily" in real estate will tend to mean 5+ units, but if looking for 2-4 units your current options that you listed are pretty good - but would not apply to anything bigger by unit count