Investment Info:Small multi-family (2-4 units) buy & hold investment.

Purchase price: $28,500 Cash invested: $178,000 Sale price: $250,000 Bought a 3 unit riddled with drugs or prostitutes from the city at the tax auction, spent a year gutting and consolidating all three units in two structures to a single-family home with an exterior side entry garage.

5+ unit buildings in solid areas are incredibly tough to find.

I recognize this is not answering your question but with a single unit, I believe if you declare real estate professional it will invite scrutiny.  

Tell him you are sorry the unit doesn't work for him and that you'll let him out of the lease penalty free immediately. 

Noticing a lot of cries for help on 5 unit places.

Hey all.I have prowled BP forums for a while and have gotten lots of good info from it, however I have not been able to find a good forum post for the question below.ContextMy wife and I purchased a fixer upper triplex in May of 2024 and live in one unit and rent out the other two units.

Also recommend pulling a few rent comps off of Craigslist yourself, and see how they compare to your units on a $/month and $/sqft basis.

Based on that number of units I would expect much higher figures - did you buy these buildings all/mostly cash?

All units and appliances are in great condition.