And for anyone who bought as it was rolling upward and 2017, and got burned, it sucks but your personal feelings mean nothing to where it could be going and the functional use.

I can understand the temptation of wanting more rent from your multifamily home however I would add this to your train of thought:What would happen if your tenant in your illegal basement unit burned down the house which caused another tenant to get hurt or even die?

And in second, setting up a "plan Z" where if all else fails what does get "burned to the ground" is replaceable, and the wealth center is protected on it's "asset island". 

The burning question is: do you own rental properties?

I have a property that burned down and may consider doing an exchange (if needed) with cash leftover from paying off mortgage.Can someone send contact info?

I have burned up texts and calls from the other side of the world because of the crises du jour in my rental and flipping businesses.

Cap rates are at 5-6% on a stabilized SFR with a long term rental strategy.Only strategy I am seeing pencil right now are with a rent by the room / co-living strategy .Flips in some areas kind of make sense where you're all in for around 80% and can make a spread.I'd suggest evaulating different strategies or markets, else you may burn yourself out - this is learned from experience :)Shoot me a pm if you'd like to chat - I'd be happy to chat and help save you some time.

Also understanding how things are put together, how siding works, gutters, etc (basically as many aspects of the home as possible)Having this knowledge will also help you from getting burned by contractors telling you things just so they can save time and money and deliver a crappy service. 

A neighbor finds out he is living there with a simple online search and burns your house down3 A neighbor tells the local news channel and they show your house on the nightly news 4 A neighbor find out you are the owner with a simple online search and they begin harassing you and your family where you live. 

Its a great place to get started and get into some great investments but its also an easy place to get burned!