I am looking at a 5 unit building that I want to do a condo conversion on. 4 units would be vacant 1 has a rent controlled tenant in there who does not want to move. I would owner occupy it so I don't know if I have a...

If they've genuinely abandoned, you'll notice their clothing, personal hygiene, and things of value are all gone.

Keep in mind that DSCR loans are how most investors have scaled. whether its residential DSCR or commercial DSCR at 5+ units. personally, i like them better. few reasons why:1. seasoning period is only like 10-30 days vs 60days going conventional2. seller max contributions DSCR is 3-6% where conventional its only 2% max3.

I am personally very bullish on the Phoenix market.  

Be prepared to follow up multiple times, using different forms of communication—calls, emails, and if possible, in-person visits to their office.

The property is insured on your behalf, personally. 

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

Are you able to go there in person to build your network? 

Consider whether an LLC is right for you—it can provide liability protection but isn’t essential for a single property, as personal liability insurance and an umbrella policy may suffice.

Personally CA scares me.