Have you consulted with lenders to discuss your budget and options?

(And I know a wrap probably isn't the first option many would choose, but I'm in Texas so its really my only option)

The property manager should be involved before you buy any property to give input on due diligence, how to increase income and reduce expenses, and to make repairs or improvements to maximize occupancy.Excellent property management is critical to your success before, during, and when planning to sell or refinance.To your success!

What you want to avoid is a lengthy contract with extension options.

Have you and your wife considered exploring fully turnkey properties as an option?

Hi Jimmy,Thanks for the feedback, we have considered Columbus in our analysis and while its great option considering how well the appreciation amounts, i doubt we would find a multifamily in our budget within  those appreciating markets.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

There are some good cash flow markets, TIC options and DSTs.

There are a few strategies you might consider to accelerate things.One option is a cash-out refinance.

This site makes me believe that we should use a 1065 however since I am involved in the partnership.