In Milwaukee the weather can get pretty cold and we want to protect the tenant, but also the pipes in the property from freezing.For that reason we do have a stockpile of emergency equipment which includes electric space heaters.

Quote from @John Sayers: Quote from @Jay Hinrichs: I like this company.. among a few others in the syndication space..  

I'm looking to get involved in this space, too. 

My question is...what happens in a downturn like 2007-2008 when banks get tight and shut off the line after you've paid it down.

I’d suggest negotiating the furniture into the sale and then slowly swapping pieces later as you personalize the space.

Duplexes or small multifamily properties, even with value-add strategies, rarely match the potential of single-family homes in the right neighborhoods.In summary:Don’t be discouraged by low cap rates—they reflect market expectations of future growth.Focus on single-family homes with high equity potential in desirable areas.Avoid chasing the "economy of scale" myth with small multifamily properties—they often come with higher turnover and lower buyer appeal.Think long-term: prioritize properties that grow in value, even if cash flow is tight at first.

You can get around that issue if you have a dedicated home office space that is used for the operation of your rental business. 

If it's in a shared space like a basement that's one thing but if it's in an occupied unit, that is something that may not be allowed in your jurisdiction.

The definition of “livable” or “finished” space can be surprisingly specific.In many markets, including here in Arizona, appraisers and agents generally want the space to be finished in a manner consistant with the rest of the home and serviced by a more permanent heating and cooling source.

Most folks overestimate the cost to prepare a space for MTR, but you'll figure out cost-savings and improvements with every iteration.