@Sung Yu You can 1031 exchange your fourplex into a single-family home, provided it’s initially used as an investment property (rented for 1–2 years) to meet IRS requirements.

This route requires more attention as you will need to ensure that you are finding good deals wether they are on the market or off market.

(eg, if your lot is not the standard 25 x 125, but some other multiple where the width is actually skinnier than 25, and the lenghth is longer than 125, and you want to reduce side setback requirements, eg.) 

.- To utilize the Mills Act requires a few things: An application (not free), inspections, and most importantly a contract with the city in which you promise to rehab and maintain the historic nature of the property.- The inspections are only 5 years, but tenants are not likely to take care of them home as well as you, and refurbishing hardwood, lath and plaster, and anything else is going to be much more expensive than the typical Landlord special (white paint, and grey LVP)It will all come down to making your numbers work.

Hello Adam, The way I draft our contracts in Pennsylvania I include a clause that requires the tenants to carry $10k in personal property and $100k in liability.

Conventional loans will require 12 months seasoning for cash out and are usually capped at 75% LTV 2.

Will the title company put this property under our LLC name, and won’t be required to legally inform HUD/tax authorities. - will it influence property taxes once we move to conventional loan in 3 yrs? 

When you tell them they will only get paid when the loan closes, they will disappear.If required, the only money you should ever send to the lender is for a credit check.

I spoke with State Farm, but they require plumbing and electrical panel upgrades just to consider reviewing my application.

If you don’t know the legal notice requirements for your market make sure you figure all that out before you do anything.