There are several 4 plex properties under 1m and a nice 3 plex, fully renovated for 900k.

And a very good bye.

So she took that extra space, added a wall and a hidden door and poof!

I financed this property using down payment funds from 403B and a local commercial bank. 15% down from personal funds. 85% down from community commercial bank. 3yr balloon, 20yr amortization, 7% interest rate.

It’s a blessing (the reason you found real estate in the first place) and a curse (you probably get distracted easily on what asset class to focus on).

You profit share with them for the first 10 deals (at the higher levels) because they really are right there with you holding your hand, and as I mentioned, doing three way calls, etc. every step of the way.  

So far besides a few books and a burning desire I am a complete novice to this.

It is zoned single family but since the previous owner is using it as a rooming house a few things look different that I am worried about the appraiser not passing:Outside doors for each room with locks.The only common area is the kitchen, no dining room, living room, etc.The rooms consist of 5 bedrooms, 1 kitchen, and 2 bathrooms.Each room has a bed and a small drawer which I am thinking of diassembling before the appraiser comes.Would I have a problem with this?

Is this place rundown and a fixer upper? 

@Brittney Yang To structure a short-term partnership for your duplex investment, establish a joint venture or LLC with clear roles, responsibilities, and a timeline for dissolution.