A 4-plex would be ideal and you could play around with doing 1 long-term, 1 mid-term, and 1 short-term, plus you, if it works on your area to upgrade your income.

When you go to sell, Montvale requires a certificate of occupancy so this issue has to be resolved in advance of a sale.Although I am not a lender, I assume you will not be approved for an owner-occupied mortgage on 5-units if it is a legal 4-unit without some type of mortgage fraud whether in reported rents, units, or another legal document or representation (very very large issue from a legal perspective with multiple arrests in the last year for anyone playing fast and loose).As far as the DCA, I would recommend coordinating your work with the city with the DCA.

if all properties you see are below market rents, than I don't think they are really below market, typically.Beyond the cost of vacancy, renovation budgets, etc that come into play.  

I would only consider Decatur for a cash flow play, not an appreciation play.  

I think the bottom line is that he played fast and loose with our money.

We're probably not going to take the risk if we're busy agents to play that game. 

You will learn the cost of maintenance/cap ex and how tenant quality plays a big role.  

If first time home buyers are having a difficult time coming up with the funds for even the costs to play as a first time home buyer then are the non profits supposed to pay the buyers agent commission too? 

@Brady Ascheman To make the decision strictly from a Property Management standpoint you have to calculate your vacancy cost and cost to acquire a new tenant to know if a rental increase is even a smart play. 

It’s stable cashflow and long term appreciation and tons of accelerated bonus depreciation on taxes. like most anything in real estate it’s a long term play.