We have a disabled son and can’t maintain full-time residence there so that’s why we’re selling.

Recently one of my clients purchased a $120k single family house and is currently renting it out for $1550/mo.

For "SELL LATER", below, I'm thinking that the family of the majority owner will want to sell when they receive a stepped-up basis upon the patriarch's death (this is a gamble on my part).

And the fact that it is his primary residence and there's all kinds of things that would make the IRS nervous.  

Quote from @John Gochangco: I’m currently facing a situation with a non-performing partner in a multi-family real estate investment.

With a background in sales and a lifelong fascination with real estate, I decided to create a company that allows me to combine my passions while providing more time freedom for my growing family.

I’m an CPA working in the audit practice and dreaming about starting a real estate investment path for me an my family.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

If you already have an experienced property management company to take care of the properties, then it wouldn't be that much of difference based on how they handle the properties.Typically you get more younger generations in the apartment buildings than any multi family homes.

I also invest in single family and small multi family properties with my husband, a NYC based general contractor with a focus on residential renovations of town homes, apartment combinations and out of the ground houses.