With that type of income, you classify as an accredited investor.

That could be more advantageous than the percentage I might gain in classifying it as a second home.

It's just not how the financial world looks at investments...CAP is a component of "commercial" residential multifamily...5+ units. 1-4 unit properties are often classified as single family (This is how Core Logic classifies 1-4 units)...The properties are valued by comparable sales method.

How would one classify Class A versus B/C ? 

Currently, I believe the LLC is classified as a sole proprietorship/disregarded entity.

They'll be able to give you more details on what is classified as Zone B as well. 

Believe it's meeting this Thursday (22-Feb) at Renton Technical College. https://www.meetup.com/Fixated-On-Real-Estate/Real Estate Association of Puget Sound (REAPS): http://www.reapsweb.com/Seattle Investors Club (SIC): https://seattleinvestorsclub.com/Cascadia Investors Alliance: https://www.meetup.com/CascadiaInvestorsAlliance/Each can focus on different areas, but they're all excellent for networking with other investors and RE-focused business partners.Keep listening to the podcasts, start joining the networking events, and you'll start to define your goals and how you want to get there. 

I'm ready to invest another $50k or so and was considering investing out of state, small multifamilies in less desirable areas near me, or to continue investing in my comfort area.About the target property: I would classify it as an A or A- area based on what a lot of people call B and C areas around Chicago.

@James Fonteno You are thinking about a stabilized multifamily which is classified as a yield play.

Make sure transfer information is correct and not at last minute changed to different instructions.http://www.chicagotribune.com/classified/realestat...What city did you settle on?