From google: “The Fair Housing Act (FHA) does not apply to certain types of rentals, including: Owner-occupied buildings: If the building has four or fewer units and is owned by the person who lives there Single-family homes: If the owner rents or sells the home without using a real estate agent, and they own no more than three homes Religious organizations: If the property is only available to members of the organization's religion Private clubs: If the property is only available to members of the club Senior housing: If the property is designated for people who are at least 55 years old Even if a property is exempt from the FHA, it must still comply with the law's ban on discriminatory statements, notices, or advertising.

It’s a great reminder to trust your own due diligence and not let others make critical decisions for you, like hiring a property manager.For future investments, building a trusted team and maintaining direct oversight is key, even with remote deals.

I do want liquidity to invest elsewhere which is why I'd like the cash back from the reno ASAP, but I don't need liquidity equal to the value of the house--just the basement build-out, if possible.With option #3--how do you "cash out immediately"?

Real estate purchase using reasonable leverage, at todays interest rates, will build up equity through amortization.  

The previous owner took exceedingly good care of the building and there was nothing that need to be done except to raise the rents.

They see foreigners as one-off buyers so they're not too much concerned about building a relationship or their reputation in the eyes of somebody who doesn't live there for that matter.

Can't say what's hardest, too many moving parts but take care of your tenants and build that goodwill, pays off in spades.

.- I prioritize building strong, professional relationships with my buyers by taking the time to understand their needs and goals.

It's wild so many buildings along the blue line corridor with $1100 2/1s and you do nothing can re-rent at $1650 or if update can bring to $2000.

Especially on small multi family buildings since most of them are in more urban areas.