I might think about swapping the twins for 2 bunk beds.

Hello BiggerPockets Community, I am Francelia from the Caribbean.
My goal is to become a Real Estate Virtual Assistant. I have some theoretical understanding of the industry and keen to learn more. I am willing to ex...

I've laid out some pros and cons below that we thought of off the cuff: Single Family: Pros:- Many potential targets (more available)- More likely to find a deal (but varies from market to market)- Location (more SF homes in more locations compared to MF)- Condition (easier to find new(er) inventory)- Exit Strategies (can resell to an investor AND/OR an owner occupier)- Simpler Financing (residential compared to commercial lending)- Self Management Option (easier to manage one home as opposed to many tenants)- House hacking (many forms of this in a SF home)- Lower barrier to entry/lower buy-in costs (cheaper properties) - House Swap (primary residence financing with rental income after moving out)- Tax benefits (potential to 1031 exchange or Section 121 exemption for primary residence) (always check w/ your CPA) Cons:- Generally lower returns (owner occupants also drive pricing) - Single tenant income (less diversified income) - Potential for more upkeep (yard work, trees, etc.)Multifamily:Pros: - Efficient management (more tenants in one location) - Higher cash flow (generally a greater return than SF) - Utilities (more utility efficiency) - Tax benefits (1031 exchange, cost seg, 39 year depreciation on 5+ units) (always check w/ your CPA) - Can force appreciation (through decreasing expenses/increasing rents) - Very scalable (can keep 1031ing and "upgrading" in unit count with the next property in one place) - Income diversification (many streams of income on one parcel in one place) - Larger targets can yield higher returns (as unit count grows, generally cash flow does as well)Cons:- More complex (typically significant nuance)- Fewer opportunities to buy (fewer targets available) - Older inventory (generally on smaller MF)

They "paid" (the swap with the exchange account) face value for it so there is not profit in the note other than the interest that comes in.

There is also a history of the two joining as one company, swapping data (swapping spit) and something will happen where First American will spin off on its own again.

This is the best explanation of the complex US Treasury market I've ever read.Even in a worse case scenario where inflation and banking volatility accelerate, the greater likelihood than a spike in mortgage rates would be some type of FED intervention and return to some form of quantitive easing through bond purchases or debt swaps. 

Feel free to tell him if he don't want his rent raised you'll gladly swap that ice cold crips A/C for a bargain swamp cooler LOL

Then swap units to fix the other to make sure you are getting top rents. 

HVAC, landscaping, fire alarm testing, check for leaks/water pressure, swapping air filters, seasonal maintenance (fall, spring, winter), small fixture upgrades, double check warranties, etc...They may uncover lease violations that allow for early termination. 

Swapping 6% debt for 3.25% debt is smart.2.