Once you’ve got a little experience under your belt then you can attempt buildings that need more renovations/repairs or have had management issues.

We value the opportunity to work with clients and partners in the real estate community.To address @David Ramirez' suggestion, if any title issues are found, the earnest money is fully refundable.

There are a lot of market-specific issues you'll have to grapple with and also, there are plenty of landmines in MFR on its own in CT that you'll have to be ready for, in addition to the nuances and complexities of developing something like this.

Is there any state statute dealing with this issue?

Regulations & Compliance: What's the best way to research local STR laws and avoid potential regulatory issues?

Class midwest issues. 

Hey @Patrick Braswell  You shouldn't have any issues getting a DSCR loan as long as you have at least 1 borrower who owns 20 to 25% of the property, or if a couple of you can get to that level combined. 

I own several duplexes there and they’ve been solid investments with no issues finding renters.

What entity issues the prom notes?

Using an unexpected repair as justification for not caring about cashflow as much as appreciation doesn't really address the issue, especially when appreciation also operates on the idea that the property's condition doesn't decline relative to comps.From what I understand about REI and cashflow, cashflow should cover not only PITI, but maintenance, repair reserves, prop management, etc.