If we get some or all of that back it will be the icing on the cake of this deal which is looking more and more like a great deal.In the past few months I’ve brought 2 other investors on board and made offers/closed on some 6 unit properties as 50/50 partners, hopefully with more good luck (and less drama).I promise this is the last update on this one (until I hear from the lawyers)- good luck to the rest of you Lehigh Valley investors!

And I stand by that strategy for the same reason you mentioned, it eliminates part or all of your living expenses, thereby allowing you to explode your savings rate. 

Have them search 1 property or all that I’m interested in?)

You will need to make sure your insurance on the property is for 3 units--you'll pay for the extra premium, however when something happens, very doubtful that the insurance company will cover your loss.Depending on the politics in the City, they MAY end up condemning part or ALL of the property until it is brought up to current code--IF they will allow the legalization of the basement.If the 10-year tenant decides to act up and stops paying, how would you evict from an illegal apt? 

As you learn the business, get more money than time, get your systems down, and want to scale up, you can fire yourself from some or all of these tasks and subcontract them out intelligently having become an expert yourself, or if you choose to subcontract before then you can look over their shoulder to learn while you "trust but verify" ... you can even subcontract out in Cleveland after you master it locally (but not before), but I'd bet that after you master it locally you will not need or want to go out of state.

If there is a unexpected move for work related purposes, you may potentially be able to exclude some or all of your gain upon sale.Something to consider speaking to your CPA about.

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

You should thank your PM for not wasting your money on such a nonsensical proposition as a eviction to regain possession of a property s/he already has possession of, against a person who isn't in the country, when you already have a security deposit to cover most or all of the vacancy. 

AI is going to be a gamechanger for those in the real estate industry, In less than 2 hours we were able to contact a potential partner for a deal in Ohio, find a property in Denver and contact the agent followed by making a hybrid offer or all cash or a sub to and to finish it off we found a multifamily property and pulled the T12, rent roll and signed the NDA.Had enough time to look at Bentleys online. 

The note balloons on 12/2022.I am interested in selling some or all of the equity in this property before 12/2022.