We see this on BP when the talk of automobiles comes up.. you have the guy with 5 rentals and driving a beat up 200k mile Toyota and damn proud of it.. :)  And then others talking about the Hot sports car they want to buy..

Once again it is good to check the statistics, but as Mark Twain paraphrased from Benjain Disraeli,  there are "Lies, damned lies, and statistics".

But if it were my first deal, I'd go 4 units or less to let the REI bug bite :) Hey Erwin I'm pretty fortunate that I don't have any real credit card debt, car loans, student loans or anything outstanding other than my mortgages.

My example is one such building that has passed it's 40 year inspection and has maintained the building. 100% agreed the buyers should research all public records before purchase; including, building code records, outstanding violations, open permits and the condo board meeting minutes, ect. 

Hi Kevin,If you can get your VA loan back by refinancing the one you have outstanding that might be a good option for you to take down 2-4 units.

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I would say a 3rd floor addition is pretty damn complicated, so it’s possibly, likely, not smart or profitable, so……….

Class A provides investors with more security by knowing that they are investing in top tier properties, with little or no outstanding issues requiring further capital expenditures.

But sometimes I think we should have just taken the damn capital gains hit and just smartly invested whatever was left without looking back

Location is 5/1012th Property(Beaufort, SC)List Price: $389,999Purchase Price: $367,000Financing: Cash4br/2.5ba, 2100 sqft house in a pretty damn good location.