Also, if you need a quality GC in the Charlotte and surrounding area please reach out!

You’ll pick up so much just by listening to people who’ve been through the highs and lows of the market.

I highly recommend the book real estate by the numbers.

Quote from @Owen Wang: I am 17 years old and will graduate high school next year.

Question: assuming an ideal brrrr that has all investment extracted at the refinance, why would you choose a low cost market over a high cost market?

For example: We provide tax preparation and advisory services to people who invest in commercial (including multifamily) real estate, and high w2 earners investing in short-term rentals.

If I was the buyer's broker, I would have checked myself to protect my client.If they had, then they would have found out it was not a three family.Its a valid point.In NM, our zoning / city doesn't post # of units publicly, only high density residential or low density. 

If I were to reduce or take out the vacancy, the 2 would cashflow.

The monthly cost is high, but we currently are cashflow positive about $1,200 a month.

If the market rents do not cover the mortgage, you may do a no ratio DSCR for a higher rate/reduced LTV  Which most likely the 1007 will be nowhere near the revenue generated by a PadSplit operation.