It's because you don't know the laws that give your lease the teeth you desire.

But the loan was great -- $0 down, $0 closing costs, low interest rate (slightly lower than market).There are no income limits, which is amazing, but in order to qualify you can't have any ownership in any other properties whatsoever.

Well, a general partnership offers no liability protection whatsoever, so I would not recommend that.An LLC with both you and your partner as managing members would be the simplest way to protect yourself individually.

Thinking through things, we thought we'd cut our rehap teeth with a small SF before tackling a larger MF.  

They won't give you the best terms and from my experience it's like pulling teeth trying to get a loan approved.I have no clue about getting a loan on multifamily/commercial as a foreigner but I would assume it would be an even bigger nightmare trying to get a larger loan approved.Most lenders here are all about a social security number and BS credit scores (Credit scores can be manipulated even if you're a broke A$$) lolMuch success mate

@Roger Covin -- When I first started, I was cold calling FSBO and CL to cut my teeth and that's like getting thrown into the lion's den and your only weapon is a piece of steak.

There seems to be no consistency whatsoever ablout what I can deduct or if I even still get the standard homeowners property tax deduction. 

Its been in some units for close to 5 years and shows no signs of wear whatsoever.

In 14 years and over 600 deals I've never had any issue whatsoever.  

@Josh Engelhart It's not worth it...the total assessed value for the past 4 years has been $87,860 so the numbers don't make sense whatsoever.