The short sale approval process can take a few months from the day you go under contract.

I would suggest taking the route of option 2 or 3, so not only are you saving over 10k in rent per year but the residents help in paying down the debt.

Unless you are someone who is going to take advantage of the leverage offered in an FHA loan, I am generally in favor of purchasing investment real estate in an LLC.  

I never wanted to be in a position where I had to take a low offer just to close a deal.✅ I developed multiple exit strategies.

I'd keep the rental and by no means refinance it to take cash out. 

Many of the section 8 tenants I've had give me little to zero problems and take care of the place as though it's their own.

While permits for ULS may take up to 1.5 years, MDUD projects can proceed faster, provided all requirements are met.Let’s break down the numbers for San Ysidro, a promising area for development.

With multifamily, it might take 5-10 years to reach that same number of deals.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Self managed HOAs are usually undercapitalized so you want to take a thorough review of the condition of the community to make sure there isn’t deferred maintenance because you might get hit with a special assessment if the board isn’t setting aside cash for those capital improvements.At face value, taking into consideration my typical financial objectives, I wouldn’t do this deal unless it was a much lower price.