Focus on what the rents will look like post-renovation with 4 units instead of 2, and have a clear game plan for refinancing to pull your capital back out. 

After a bit of back-and-forth on the repair costs, I negotiated it down to $69,000, convincing them the extent of repairs was higher than they initially estimated.

After a bit of back-and-forth on the repair costs, I negotiated it down to $69,000, convincing them the extent of repairs was higher than they initially estimated.

This now places their use back subject to your approval, so their own claim via AP/EP statute is reduced. 

We have requested permits to fix this and have not heard back yet. 

you're going to be INvesting for the first few years... rental income from the property isn't going to start paying back what you spend in closing costs, rent ready costs, stabilization costs, down payment, etc. for several years at a minimum.hope this helps - not trying to be negative, just realistic. 

So after being laid off a few times in the last 8 years I decided to get back into investing but this time focusing on buy and hold multi family real estate so that I could built wealth that could help me retire my wife who just had a long battle with cancer and survived , but is now back to work, and I want to give her a relaxing life free of all the stress of the world (by the way did I mention she is also in the mortgage lending field) so that explains the urgency to retire her from w-2 work ! 

Venecia, I totally get it—there's so much content out there that it can feel overwhelming, and taking that first step can be really daunting.What I’d encourage you to do is really sit down and think: what's holding you back?

There are limits to this as well (when someone stays the whole time and doesn't say anything while there), but if someone chooses to leave early or right away, give them their money back before they drill you with a 1-star review.

It was a relief to have the unit back on track!