Additionally, it fits into my broader vision for the area, which includes developing adjacent land into 12 patio homes and two duplexes, creating a cohesive and profitable portfolio while enhancing the local community.

Other examples include Habitat for Humanity, local veterans organizations, etc.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

So if you have any additional gain left over after taking the 121 exclusion, including the depreciation recapture, you can shelter the rest in a 1031 exchange.

Hi John,To effectively gather a list of multifamily properties for your marketing mailers, here are some resources and strategies you might find helpful:- Reonomy: This platform allows you to search for multifamily property owners based on various criteria, including location.

Most credit reporting offered with property management software will include an ID check of some sort also.  

Keeping this as a rental would not cover the mortgage (we'd have to pay ~1500 a month including utilities) and we can afford the extra payment, but is it worth it when looking at appreciation?

Most syndications are held for about 5 years and some include a refi around year 3.

To include fee structure.If you have never owned rental properties or had a PM and are jumping into the business, it will be harder for you.

@Clint Miller I’ve gotten my best deals over the holidays including my first where we made an offer on a property and gave them 10 days to decide whether they were going to accept it or not which included all the holidays and the holiday week which was slamming with business for this property.