If you are purchasing that MF property for $1 mil then you can use the 3 units as your replacment for the 1031 exchange ($750K of value) and live in the last unit ($250K of value).An awesome way to house hack your way up!!! 

I actually live in New York State myself.

My name is Dina, I live in the suburbs of Chicago.

Any person over 18 should go through the tenant screening if they are living there...they don't necessarily need to be on the lease, but there is another area on the Chicago Association of Realtor's lease to add occupants.

So, the total base move-in costs would be $2500, all paid prior to lease signing.Since choosing a place to live is a very personal decision, please feel free to do a “drive by” of the property, located at 123 Main St., so you can get a feel for the neighborhood.

Since the internet lives on forever, I think it's time I refresh this thread.

Quote from @Azita Nejaddehghan: Young adult, working in health care, living in Virginia (just outside of DC).

But at turnover you needed better paint and change out window coverings almost always.. change carpet every other tenant.. glad i had concrete floors in the main living areas..

All he does is co-living.

It often takes living and breathing the industry around the clock for a few years before you start seeing consistent returns.