If you understand the math of it all it should come very clear, the game is NOT best played (1) buying in all cash, (2) buying and sitting on a property for decades on end. 

Redeveloping into mixed use live/work/play projects has been the most common proposed solution the past few years in my area. 

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.

Once that's covered, you can go all-in on those fabulous renovations.Effective marketing plays a pivotal role in attracting tenants and increasing property appeal.

@Brady Ascheman To make the decision strictly from a Property Management standpoint you have to calculate your vacancy cost and cost to acquire a new tenant to know if a rental increase is even a smart play. 

The play is that rather than having to wait until the foreclosure process is completed, the investor can rent out the property (and earn a return - after rehabbing it, of course) during the process.

The mega site in Richmond, as well as Mt Vernon, will really change the landscape in these areas as they did in E-town when the battery plant came in play. 

I would only consider Decatur for a cash flow play, not an appreciation play.  

Hi Lorenzo, Within my 20 years of experience, I’ve seen this play out many times, especially in competitive markets like East Boston.

If first time home buyers are having a difficult time coming up with the funds for even the costs to play as a first time home buyer then are the non profits supposed to pay the buyers agent commission too?