What I really liked is that I was buying the business and the PROPERTY at the same time and it included a smaller separate building on the property that had a hair salon and auto repair shop renting.

I bought my first property as owner-occupant for a hair under 55k in Syracuse.

It's all about systems:  ****TIPS*****1) Set up the space right, and get everything you need - 3 sets of all linens, iron & ironing board, hair dryer, extras of stuff for them..2) Have a thorough ad, that answers all questions, w/ FAQ.

These include combing through and acquiring as much knowledge as possible, listening to several podcasts, running property deal analysis using active listings and meeting with my realtor (he listed my house previously and so I have a relationship) who has configured me for MLS alerts for multifamily as well as non-multifamily alerts.

I have a quoted rate of 4.75% with paying just a hair under one point or $723.

Looks like a decent investment, but be sure to comb through those HOA financials.

They painted over dried drywall mud, bugs, hair, and anything else you can think of.

You're really splitting hairs when comparing all 3 of these markets.

For instance, in ri a 2 family needs smokes, 3 family needs a hard wired alarm system, and a 4 unit needs sprinklers (if it's converted from a 3).I've had a few clients hire me to comb through the code to figure out what they'd need to do to make these conversions-- regulatory officials usually tell you the most restrictive (and easiest) answer.

Where practitioners start splitting hair is that they combine the PI component into one fee and add a "service charge" or fee.