He was my roommate before I purchased additional rental units.

They are building new fourplex units and advertising compelling cap rates in their pro formas.

If they want to sell now or in six months, you need to know before giving them an offer so you don't lose leverage by giving them an offer now instead of closer to when they are ready to finalize.Since you are already going to the property, take good pictures and make sure you capture the electrical panel, HVAC labels, and plumbing material.

Since IRR takes into account the time valueof money, it’s no surprise the IRR is highest in the first two years.I ran four scenarios and raising rent doesn't impact the IRR.Scenario #1: Keep it and Raise Rents by $500+Both units had the same tenants in there for the lasts three years.

Even better if I can sit down with a builder and get started on funding and blueprints.This meta-strategy will use all the above strategies:1. house hacking: house will be built from scratch to maximize rent/room, while having a family unit/ADU for my family to live in one year2. costseg/STR: the building will be built from scratch to maximize bonus depreciation.

The upper unit was where the previous owner lived.

I'm looking to explore Multi-Family unit investments with the hope that I turn this into a full time gig.  

We own and operate a few multifamily properties and also 3rd party manage for other owners with properties 1-80 units including single family, condo's, townhomes, etc in both the Jacksonville and Orlando areas.

I was able to secure tenants for both units and used quite a bit of advice from this platform as well as other landlords I know.

There will be 30+ units (80% 1BR and 20% studios) that need to be filled when renovations are completed.