If this is your first time, a negative cash flow situation gives you no room for a personal learning curve - that is - all of the mistakes you will make (and their subsequent costs) simply because it's your first time owning/managing/financing a complex in San Diego. (3) Going into a negative cash flow situation in "hopes" of appreciation is generally a bad financial move.

If I look at an area where there is strong population/wage growth (and subsequent building developments) I view this as a plus.

On subsequent units, we went further, changing the kitchen flooring (for Allure from HD), changing the kitchen counter top, changing cabinet knobs (a small thing, but very noticeable), and changing sinks, faucets, and toilet if needed.

As a BK attorney, you must be well aware that once there is a discharge, there is no subsequent derogatory reporting on the borrower's tradeline (Assuming the foreclosure happens AFTER the BK discharge).

I do not currently have my license but have completed classes and am awaiting exam and subsequent licensing.

You can either each buy a representative tenant in common interest (TIC) in the property, and then subsequently (many different opinions on how long this period has to be) each contribute your TIC's into a new LLC.

My investing plan is to acquire a Small Multi-Family unit using an FHA loan, move into one of the units and subsequently acquire more SMHs before trading up for a small apartment complex.

In each subsequent year, the seller will pay capital gains tax on 50% of the principal he received from you, plus income tax on any interest you pay him.So, in your case, the seller will pay tax on the gain included in the down payment you make in 2020, which will be due in April 2021. 

He was willing to generously and freely share his knowledge about note investing with a newbie, as have so many others subsequently (thank you all).

You should be able to do this for about $750.Now, for subsequent LLCs, you can take those docs and change the LLC name, then file them yourself with the state for $70.How many LLCs do you need?