I am the VP of OmniKey Realty LLC and we specialize in working with investors to grow their real estate portfolio.

Many warranties cover single-family homes or duplexes, but for multifamily properties, you might need a specialized policy.

Yes. the original lender probably will not but a new lender may- there first question is gonna be what is your exit strategy so be prepared to answer that question.

Its a quick and easy addendum to prepare. 

**Maintenance**: Be prepared for a bit more wear and tear compared to market-rate rentals.

Right now, land (unless in a hot market) takes a special type of buyer/developer to turn it into money, so you're better off finding the thing the people with the money want. land tends to sit a long time...

Found this off-market deal through a local wholesaler specializing in distressed properties.

Found this off-market deal through a local wholesaler specializing in distressed properties.

Like in many other markets, only a minority of owners can get such figures (if they have a special property that they bought at a good price years ago for example) but the average buyer/investor will be sorely disappointed if he/she hopes to reach those figures.

If there was no appreciation, there is no need to do a 1031 exchange.I have never been a fan of condo's as you lose some control over the investment - You have no control over the monthly maintenance fees, you may not have control over who is on the board, you have no control over special assessments.I wish the investments turn out well for you!