Your DTI will get maximized and you'll be short capex & reserves when the cost of capital is going to be higher the next 10 years than the previous 10. 

This should include down payment, closing costs, potential rehab costs, and a reserve for unexpected expenses.Market Research:Choose a Market: Decide on a market where you want to invest.

This can involve public hearings and meeting specific requirements.Surveyor: Hire a surveyor to map the property and define the boundaries of each condo unit.Legal Counsel: Work with a real estate attorney to ensure all legal requirements are met and the condo conversion is properly documented.Financial and Operational Considerations:Condo Fees: Determine the monthly condo fees for maintenance, repairs, and other communal expenses.Insurance: Ensure proper insurance coverage for the condo association and individual units.Reserve Fund: Establish a reserve fund for future repairs and maintenance.Tax Considerations:Initial Purchase with 1031 Exchange: 1031 Exchange Basics: By using a 1031 exchange, you defer capital gains taxes on the sale of your previous property by reinvesting the proceeds into a new like-kind property.Down Payment and Financing: You're putting down $220,000 and financing the remainder at 8% over 20 years, resulting in a monthly payment of $2,593.Converting to Condos and Selling Units:Capital Gains Deferral: The 1031 exchange allows you to defer capital gains on the initial exchange.

Been brainwashing myself with BuggerPockets pod casts (which are awesome) from YT for last 3 months but wanted to confirm no way around the real estate professional designation.  

To ensure compliance, it's important to have your IRA custodian review the loan documents to confirm that the carve-outs align with the IRS guidelines for IRA investments in real estate.

You should also request an estoppel so the tenants can confirm that the info you were given in the lease is still current and correct (you never know if the owner gives you an old lease with old info, and maybe the tenant has actually signed a more current version). 

Hey BiggerPockets family,I was just approved for an owner occupant, Fannie Mae, 5% down with a purchase price of $1.3 million for a 4plex in the Phoenix Metro of ArizonaMy middle FICO credit score is 759My current DTI debt to income ratio is 30%I have enough down payment, closing costs for the subject property, and enough liquid reserves for all 10 of my apartment buildings totaling 45 units in PHX Metro AZ my mortgage lender quoted me with a rate at 8.125% with me paying 0.156 points totaling $1,920My question is,does this 8.125% interest rate sound reasonable for an owner-occupied fourplex 5% down Fannie Mae conventional loan as of March 27th, 2024, at 1700 hours?

This helps catch any discrepancies early and keeps you informed about your properties' performance.Budgeting and Forecasting: Create a budget for each property, including expected income, expenses, and reserves for maintenance or vacancies.

He confirmed that BART enables criminals to travel to the Dublin/Pleasanton area to commit crimes. 

Lastly, I do have enough cash reserve to acquire more property at the moment, which is my plan in the next 2-6 weeks.