For 3 units he’s prob better off following your advice unless he can forgoe the cash flow to build equity and build for the long term.

@Matthew Song Loong Haha, thank you very much for your advice.

Unless you've done a good number of total gut jobs and are comfortable with them (and getting the property for a song), I would pass on this one.

Like these windows. the ceiling needs a lot of work and no idea why I hung the cabinets before doing it but now I’ll pay the price for going out of order and shellac it and final coat of paint to bring it back to life. the dryer is in but needs to be vented and electrical needs to be down.

I have been a member of the community for going on a week now.

It's like the difference between reading a written description of a song vs. actually listening to the song.

I've been house hacking for going on 2.5 years now in the south broad ripple areas and the financial benefits are incredible. 

He decided to forgo court action and sold us the property earlier last week. 

@Sachin BhatAgree with Jay that you got off lucky for going in without those lessons learned already in hand.

For example if you have a good down payment and was simply wanting the property to cash flow enough to cover the debt service, insurance, and Property management then some investors may be willing to forgo a long term rental in order to get some of their profits upfront in the form of a down payment and make a little monthly cashflow.I personally have been willing to leave a little meat on the bones so to speak in order to get some of my capital back faster so I could keep the buying machine turning, by owner carrying some of my houses to investors.