I agree—most of these individuals aren’t paying taxes and aren’t typically aiming to own the property.

We are already surrounded on three sides by urban zoned homes.My neighbors and I have been approached by two individuals, one is a neighbor who is a real estate agent, and the other one a friend of a neighbor, who works with a real estate attorney; both individuals asked us to join them in working with the 5-6 developers they have approached.

Each unit is individually owned, with some owners holding multiple units.A few things I’m trying to understand better:Pros and Cons: What are the main benefits and challenges of owning multiple units in a property like this with a condo setup?

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

We have been in contact with other individuals throughout the state and they are all saying the same thing – prices are down, time to fill units is up, and evictions are up.

Investors need to do a thorough background check on the key INDIVIDUALS that they would be relying on to invest and manage their money.  

Hello BP Community,I’m new to the platform and eager to connect with like-minded individuals who share a passion for real estate investing.

Your write offs are also not effected, so you can write off miles also as an individual owner.

SFD vs condo vs 2-4 unit, hold vs flip, turnkey vs rehab, passive vs active...it really comes down to each individual property/opportunity, what your goals with the property are, and if the numbers make sense or not.Best of luck!

I joined BiggerPockets to connect with like-minded individuals, learn from experienced members, and contribute to discussions where I can add value.