Any advice or direction on how to go about this in Wisconsin would be greatly appreciated.Before you do that, ensure the home will make a good RAL property.

To who this may concern,To discuss any matter in depthYou can reach me directly at my email on my profile page(biggerpockets wouldn't allow me to comment with my email here).

After a few candid conversations, they realized they could negotiate slightly higher rents by offering small improvments..things like better loading dock access or upgrading the security features..turning a so-so cash flow into something much healthier.When you break down your family friend’s situation, it might help to consider these angles:Selling and redeploying capitla could open up opportunities in markets where cash flow is a bit juicier.

The best way to feel out the type of lender you will be dealing with is by seeking referrals and communicating directly with them during the origination process.

And yeah Marquette, MI is an appreciating market and a college town where everyone complains about increasing rents (and their bad landlords).Hopefully I can still find a few properties that can cash flow anything, no matter how small, with zero down but I'll have to see if they'll pass VA inspection too.

I don't know what area you are in, but generally just take them to Small Claims Court.

@Chirdeep BhutaniIt's market specific, but residential RE and commercial are not always directly correlated. 

This activity will go directly on your Schedule C.

Microsoft Excel, and most budget or free online bookkeeping isn't going to cut it in this situation.For the rental properties you own directly, I often tell clients and prospects that a P&L in Microsoft Excel is just fine and a balance sheet is not necessary for tax purposes. 

@Justin Jefferson-start with a house hack-read up on how to house hack-call a lender and ask about owner occupant loans for small multifamily