I think a portfolio loan is a stretch since the law is a little vague and most banks will probably be conservative about it and come to the same conclusion that Freddie and Fannie have.If you aren't living in the multi than it is just a normal investment property and the normal rules apply. 

., I presented all the facts to him, and, even with both of us knowing that I was rooting for REI, asked him to look at all the information I presented and asked him to come up with his own conclusion.

I have already done some research on the local county website but it doesn't seem to be very conclusive for what I'm looking for.

My conclusion is that the whole 2nd floor addition strategy is working in some parts of Portage Park but not yet in the block where our house is at.

That also pays for mortgage pay down so in addition to appreciation I am gaining equity through amortization of the loan.but just the dividends alone, not even withdrawing principal would KILL income from real estate.How did you come to that conclusion. 

And I have come to the conclusion that, above all, I must guard my heart from the love of money.

If I were to factor in the opportunity cost, as you put it, the best forgone conclusion in this case (continuing to rent) would be that I would lose liquidity in some funds used as a down payment, but I would also have reduced living expenses and equity in a home.

I still think the law degree would be a good complement to your RE efforts, but if you ever come to that conclusion, you have one year down already.

Do your own research, perform your own due diligence, look at the facts, weigh the evidence, listen to your own heart, follow your own moral compass, make up your own mind and come to your own conclusions before weighing in on bandwagon bs and propagating or defending unethical and immoral teachings based on illegal practices that place both the practitioners and public at risk.In closing in this debate who's hiding, who isn't, who can, has and will again back up their claims.

Like Swanny, I came to the conclusion that we are getting close to the top and sold most of my San Diego properties and 1031 exchanged into a cash flowing market.