When you go to sell, Montvale requires a certificate of occupancy so this issue has to be resolved in advance of a sale.Although I am not a lender, I assume you will not be approved for an owner-occupied mortgage on 5-units if it is a legal 4-unit without some type of mortgage fraud whether in reported rents, units, or another legal document or representation (very very large issue from a legal perspective with multiple arrests in the last year for anyone playing fast and loose).As far as the DCA, I would recommend coordinating your work with the city with the DCA.

Purchase price: $230,000 Cash invested: $283,550 Sale price: $283,500 Purchased off market. $25,000 Rehab. $20,000 profit after realtor commission.

The motivation is not necessarily to scale into larger opportunities but rather to achieve better balance and also optimize the performance of the projects and types of projects I currently pursue.I have no shortage of individuals who possess specific skill set who would want exclusive rights to that particular service vertical in return for contributing capital and a partnership interest (construction background and wants to take over all construction duties or someone who is a sales broker and wants to list all of the properties etc.)

I have sales reps that know me, free delivery, net 90 billing, constant product updates a bullet proof warranties.

"The man who represents himself has a fool for a client" was said about attorneys, but it could be said about a new investor representing himself in a sales transaction.

Unless you are unknowledgable, my bet is you could make more from rent than sale, and still have the benefits of owning the original home while you go do something else.The 25K you have left in property will be netting you(gross) of $350 mo or 4200 per year.

Purchase price: $540,000 Cash invested: $108,000 Sale price: $540,000 My client bought a condo in Lincoln park.

Until you sale or settle up.  

Short Sales, Bank Owned, $/sqft, school district, days on market, etc.  

I am currently a sales manager for a commercial tree farm and have recently been consuming Kiyosaki's books like they are candy.