I bet that essentially no one is starting new construction projects, which bodes extremely well for owners 2-4 years from now.- Prices for insurance policies will never go back down, but it is not unreasonable to expect costs to rise at a more predictable pace from here.

I have a few questions- "We started an LLC" "We purchased a property" Who are the legal owners of the LLC? 

I would just hate to be an owner occ and the next thing I know my neighbors house now has 3 to 5 rooms rented with all the cars and traffic etc..

The more experience earned, you gain insight into comparables, learn neighborhoods, get better and better in determining a real deal from a stinker.Sounds like you earned a little break now!

@Bob Willis PadSplit is a little tricky.

Is there anything you can switch up strategy wise or do you need to expand your search a little outside Boston?

In the past we dealt with one guy, we paid a little higher interest but the ease was great. 

These are typically ownership groups, not single owner.  

You will have two separate K-1s as you are each individual owners.  

Of course could be a little different but thats generally how it  all works.