If you meet the bank's other requirements, then SBA will come in with 35-40% on top of the bank's 50% to lower the down payment to 10-15% (depending on property type).In our case, the previous owners had run the place as a part-time hobby, so the historical P&L's looked like crap. 

In my experience that either means there is something prohibitive in the zoning, or there simply is not much demand for that sort of product if most people either go with an apartment in a large complex or rent a SFR.

About to close on a 10+unit apartment building and my wife and I would like to self-manage as much as possible, as I am local. 

If you acquire one new property each year, you could significantly increase your wealth and potentially position yourself to qualify for larger investments, like apartment buildings or construction loans, within 10 years.I’ve worked with clients who have successfully implemented this strategy, and it has proven to be an effective path to building long-term financial freedom through real estate.Good luck with your decision!

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

Hi @Nicholas L. and @Chris Seveney a few weeks after my post, they did a part 2 for the survey and 2 days ago, the Zoning Dept. emailed out an update for the proposed policies.Here's their message:"We want to keep you informed and share a preview of the proposed Short-Term Residential Rental Ordinance regulations and express our gratitude for your invaluable feedback and participation in Phase I and Phase II of the Alexandria Short-Term Residential Rental Study.

I traded up for a 7 unit apartment building.

The #1 reason that landlords fail is due to failure to manage to the lease (Source: American Apartment Owners' Assn). 

There should be a class action law suit again multifamily mindset that has ripped off so many people and tore their lives apart in a horrible way.

Paid a little less for an apartment unit in Arkansas, but it was much smaller.