I will say anyone offering this should be giving you all the pros and risks of the flint marketplace.

You'll have a small empire by the time you are 30.However, being a landlord involves a lot more than just collecting checks.

However if you have enough reserves, 6mo or greater then I'd say chance it but a couple of missed payments from the tenants and you have to foot the payments out of your own pocket.I'm all for taking risks but I think you really need to evaluate the age of the major systems so you don't get hit with a bunch of cap ex all at once as well as your reserves. 

This risk is amplified the less money you have attached to the deal.

I get a lot of doubt from people but Im am willing to take the risk and go for it.

Whether it's considered an arm's length transaction is debatable, but it's not illegal.Move forward with the sale and ensure full transparency with all involved parties, including your CPA.

BBB has them at a D-  rating because previous similar bad outcome 3- If you are really in the same boat as us, you need to start a class action lawsuit that involves all the investors in that project and/or sent a complaint to the attorney general in Florida that involves all of us get him to liquidate his assets, pay us back and get him behind bars.

Is it worth it to go through the proper process with the city and run the risk of a huge expense to make this a 3rd unit? 

Of course, every owner's situation is unique and factors like the legal entity involved, purchase date, adequate passive income that can be offset with the cost segregation study, etc., will need to be considered.

Some risks include:- Declining property values, leaving you with little or no equity.- Rents staying flat while property taxes and insurance increase.- Unexpected expenses that eat into profits.For example, some investors who bought in 2022 at high interest rates expected strong rent growth to cover costs.