In addition, several items can be done simultaneously (I highly recommend this to save time as time is your enemy) such as doing the exterior siding or stucco at the same time interior rough electrical and plumbing is going on.Foundation is always first and rough framing follows that (which includes windows and exterior doors).

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Additionally, it fits into my broader vision for the area, which includes developing adjacent land into 12 patio homes and two duplexes, creating a cohesive and profitable portfolio while enhancing the local community.

Other examples include Habitat for Humanity, local veterans organizations, etc.

So if you have any additional gain left over after taking the 121 exclusion, including the depreciation recapture, you can shelter the rest in a 1031 exchange.

You should not allow any adults to reside in the property without being screened, approved by you, and on the lease.Here's a detailed guide on how to screen applicants: Application Screening Guide

Hi John,To effectively gather a list of multifamily properties for your marketing mailers, here are some resources and strategies you might find helpful:- Reonomy: This platform allows you to search for multifamily property owners based on various criteria, including location.

Keeping this as a rental would not cover the mortgage (we'd have to pay ~1500 a month including utilities) and we can afford the extra payment, but is it worth it when looking at appreciation?

To include fee structure.If you have never owned rental properties or had a PM and are jumping into the business, it will be harder for you.

This includes future maintenance that will be required.