I am currently studying to get my real estate license in the state of PA and plan on buying my first investment property in the next couple months.

My developer client successfully defended the initial challenges and settled on this having PE rights, so he shifted the site plan to avoid the issue.

With a backup plan, and proper (extensive) legal docs, much of the risk can be mitigated.

The only negotiation with the tenant after the judgment is the payment plan for the money owed to you.

I plan on my income jumping a fairly good amount, especially since I will transfer to working a full time position.

Double check any cap ex you might have coming in the next year or more there so you can plan to set that aside (boilers, roofs, etc).

I plan to get it myself if someone doesn't want it.

This extra year gives property owners more time to schedule inspections and make necessary repairs.Key Points:Applies to multifamily properties with three or more units.Covers balconies, decks, and elevated elements made of wood or similar materials.Inspections must be completed by licensed professionals and repeated every six years.Hazards identified must be repaired promptly.With the extension, now’s the time to plan ahead.

You'll see a hike in rate going from FHA to conventional in general (especially if your plan is to pull some of that equity), but you're also going from owner occupied to investment (if you plan on moving) which is another layer of pricing adjustments.

I call this dumb debt: Quick note; the deferred sales trust can save a failed 1031 exchange( cost zero to have this option, nor does it take any of the identification property positions) (It's wise to always have a back up plan)More on Dumb debt.