I am looking at a 5 unit building that I want to do a condo conversion on. 4 units would be vacant 1 has a rent controlled tenant in there who does not want to move. I would owner occupy it so I don't know if I have a...

Note, I am not looking for a syndicate to BRRR or rent of some sort.Experience: I have personally bought an old home on a 8,000 sq ft lot, rezoned it to two 4,000 sq ft lots with a family member.

I personally wouldn't hold a property without it.

If a person wants a different outcome, they usually do something different.

The new person must complete an application and pass the screening.

Second question is, if we don't live in the city we will invest in, we understand we will have to be traveling often, but who could be a good person to check in on the construction so we don't have to go every week?

I haven’t personally had a bad experience yet, but I know it’s definitely something that can happen in private money lending.

I also use their virtual credit cards which enables me to assign a card to a specific person, like the cleaner for my STR for example, so when she runs a charge, it automatically drops into the right account in terms of categorizing my expenses.

this is only a good idea if you have reason to believe that the area will be appreciating quickly, which is called speculation and akin to gambling not investing. me personally, I would rather put my money on black than bank on market appreciation. negative cash flow rentals are a time suck and money suck.

Personally, I'd spend a little more if I knew there was significant value add there.