Consider checking with some neighbors to see what their water bill looks like.I'm surprised they back-charged you for previous under billings in October 2024....i thought the bill was just adjusted moving forward. 

It's one of the hottest markets in the US right now with so much population growth, job growth, and companies moving/developing here (26B Intel headquarters being built here, 68K+ enrollment in Ohio State University, Amazon, FB, Google, Honda, Nationwide, Anduril, etc.).

Does seasoning start when a renter moves into the property? 

That way you have them in your back pocket when you find the right one, and generally lenders can move a little faster to close the deal once you're already pre-approved and in their system. 

When I would get to the refinancing part, how does this work in my favor in terms of getting money out of this investment and moving onto another one? 

Partnering with family and securing owner financing to acquire the property below asking price was a smart move, and the renovations sound like they added significant value.As a direct lender, I’d love to explore how we might assist with your future growth, especially as you look to scale into larger multi-family investments.

However, I’ve often felt alone in this journey—especially when making big moves—and that’s what brought me to this incredible forum.

We live in Wisconsin so it will be a hike but we plan to move to where we are starting to invest.

I've recently moved to SC and am trying to get into REI here. 

They probably don’t want to admit the real story to themselves or their investors.My observation is MF values are down 25% to 37% from peak—I have a case study with a reliable value at the moment of peak and a semi-reliable current value estimate—the drop is 37% and this is not a distressed property.