Buyer may elect to treat this Contract as canceled, in which case all Earnest Money received hereunder will be returned to Buyer and Buyer may recover such damages as may be proper.

@Albert Gallucci as many have pointed out, in the commercial space of 100+ apartment buildings and offices, property classes have some pretty decent industry standards.We started applying these to 1-4 unit properties around 10 years ago, which you can verify on our blogs, because we saw too many newbie investors not properly taking into account things like, neighborhood status, tenant pool, property condition, etc.Unfortunately, there's no industry standard for this, but you can use some basic logic to think your way through your own Classifications.

To avoid issues, hold the property in the trust for a year, ensure the LLC is properly structured, and consult a CPA or 1031 exchange expert to confirm compliance with state and federal tax laws.This post does not create a CPA-Client relationship.

I'm excited for you and your wife to continue to expand your portfolio. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Looking at southern Maine right now, hopefully expanding after we get some momentum.

Perhaps there is a relevant book or podcast that you could suggest to expand my knowledge in this area.Considering you're experience with creative finance deals, which you mentioned previously, I am keen to hear about your personal insights and experiences.

With one successful flip under my belt, I'm eager to connect with fellow investors and expand my knowledge and network in this vibrant real estate market.In addition to my passion for real estate, I’m also a skilled electrician.

The industry is mature and margins have properly compressed.

Excited for you to be here and expanding your portfolio!