Hello colleagues,The fire Marshall recently conducted a review of an 8 unit, 3 storied old building in Palo Alto, CA  that I manage.He has specifically called out for several corrections.

These loans often have more straightforward qualification requirements for investors with multiple properties but may have slightly higher rates.Cash-Out Refinance on Your Single-Family Rentals: If each has around $70k in equity, a cash-out refinance could provide some capital for the down payment, renovation costs, or even help you buy the 4-plex outright.FHA 203(k) or Conventional rehab loan: If you’re planning to occupy one of the units as a primary, FHA’s 203(k) loan or a conventional renovation loan could help with purchase and rehab costs at lower interest ratesPortfolio Loan: Some local banks may offer portfolio loans for investors with multiple properties.

I actually have two options for this property: 1) Rent out the existing 25 storage units AND rent out the building plus add the 25 additional units out of pocket.OR 2) Rent out the existing 25 storage units and added the 25 additional units out of pocket to rent them out BUT keep the metal building for my GC business to where we have offices and storage for building materials.

Haven't been able to walk each unit though.

Now most of these I am keeping as rentals as they exceed the 2% YES 2% Rule, 75k rent 1700, 90k rent 2k, all in 230k (7 unit) rent 55k.Good luck to you 

House HackFinish the basement as a separate unit (if zoning allows) to rent out while you live there.

My advice probably isn't the one that will maximize your return, and it may not even be what I will follow as we continue to grow our portfolio, but here it is.My wife and I manage 5 units (4 we own, and 1 we arbitrage), and we allow anyone to give us 30 days notice to vacate at which point they can be let out without penalty.

I'm looking at Wynd vs Minut for noise and smoke awareness in my new unit.

You have so few units at that point that either things are going ok, or badly.

I have about 65+ units in Florida so in a similar boat to you.