I'm also an investor in the local market that has scaled my portfolio to over $10K+ month in net cash flow.

I have a client house hacking in Hoboken who bought for a bit over $1.3m - they live in the top duplex 2/1.1 and rent the bottom duplex 2/1.1 as an MTR now and probably will make 4k/month.

It's not likely you'll be able to rent rooms out for 1500-2K per month unless it is an extremely nice house/area.

I tried for months to find a lender for MF (10+ unit) before connecting with a broker. 

@Jonathan Bremner Happy to talk about investing over here in WNC sometime if you like, to make intros that might be helpful, and to host you at one of our monthly BP meetups in Asheville.

Tenants in arrears due to “loss of income related to COVID-19” have a six-month grace period—without late fees!

If you sign up as a client they provide legally vetted forms and can advise on the process at no charge.

They also will reskip or not charge for numbers that they do not find.

I will be closing on a small office building next month which I will be repurposing.

So, my experience has been that an LLC is a lot easier to properly maintain as an entity than a corporation, and hence much more difficult to “pierce”.Some confusion occurs because of a misunderstanding of the plaintiffs charges.