There is a $500 per day penalty, up to $10,000, and imprisonment of up to two years for the WILLFUL failure to file initial or updated timely reports.Where to file the BOIR report?

I would vote bookshelf, since in long term rentals, typically, you want the least amount of things you will need to fix, as possible.If short term rental, than Murphey bed would be my vote, typically.

I’m curious to know what kind of discounts did you get?

Demand is what drives up price/value.

We can't find the next opportunity, have little economy of scale, so I'm forced to keep our reserves high.

Feel free to DM me to find out more.

Is it possible to sell or refinance one unit to pay the other off completely. 

Basically completed just needed some clean up from construction, so to be expected. 

To evaluate Real esteate deals for creative financing, start by identifying seller motivations i.e. financial distress, desire for passive income, do they need a downpayment on their next house, etc  and property factors like equity or existing financing terms.

Welcome to BP!