It doesn’t require you to disclose any personal information. you just have to have sufficient assets for down payment and closing costs usually starts out at about 20% down.

The excitement then went through the roof and the owner wanted to do three or four at the same time and the next thing you know the whole ship went down in bankrupt.Just something to think about. 

I will split a giant master room into two smaller rooms and will convert the living room to get the additional three rooms.

Full Occupancy: The property achieved full occupancy within three weeks of listing, with strong tenant demand.High Cash Flow: The property generates $5,570/month in gross revenue and approximately $4,690/month in net profit after operating costs.Effective Use of 1031 Exchange: $300k of the total $420k investment was offset by the 1031 exchange, minimizing out-of-pocket expenses.Long-Term Stability: Designed for durability and versatility, the property is expected to cash flow for decadesLessons learned?

I've done quite a few 1031's and each time I had my three targets already picked which means they were less than two weeks from being signed when I closed on my downleg. 

Must meet self sufficiency test for 3-4 units on FHA though, which alot of properties in higher cost areas do not meet.Conventional allows 5% down on 2-4 units.

It is definitely a two or three gun area!!

Whether you pay 1 point, two points, or three points or your rate is 10% or 12%. 

The three units you are renting out are investment properties, if they were put into service this year then you can deduct your expenses on them, but not on your unit.

I figure the upside to the rental scenario is, of course, investing in multiple properties, while a downside would be having to most likely get a conventional loan on the second house with 20+% down and proof of sufficient enough financial reserves to handle two mortgages.