Over the past decade, I’ve built and managed purpose-driven homes in CA that serve communities while generating stable, long-term cash flow.In addition to running care homes, I also consult with aspiring care home owners across multiple states, including Texas, Arizona, and Michigan (Detroit area).

However, there are still plenty of tax benefits when it comes the income you generate from your multi-family property that you can deduct from. 

That is why I say I don't think it is a good plan (for my lead generation standards) BUT you will more than likely get lucky and snag one deal... or 2

@Sung Yu You can 1031 exchange your fourplex into a single-family home, provided it’s initially used as an investment property (rented for 1–2 years) to meet IRS requirements.

3) How flexible is the contractor about meeting at the property for their inspection to generate a bid? 

I was interested in something like owning a rental property as a way to generate some additional income. 

EXAMPLE: you can probably send out the initial eviction notice yourself and then forward to attorney if a court date is needed.Regardless, it is our opinion a landlord should START the eviction process every month a tenant is behind, no matter their excuse.

You’d be able to pull out $330,455, which is significantly more than your initial $236,930 investment.Your Initial Investment Back: This means that in 5 years, you’ll not only get your original investment back but also keep an additional $93k in your pocket.However, there’s a downside:Negative Cash Flow Impact: Over the next 5 years, due to the negative cash flow of $1,229 per month, your total cumulative loss will be $(60,153).

More likely, he is hoping to use the extra time to collect more rents and thus more fees to generate the funds to pay his owner clients:(

A vacation rental could generate higher returns but requires more active management.