Each lot is assessed with the taxes to cover such cost and they are paid monthly for the first 15 (give or take) years as part of your mortgage payment.

Once that's covered, you can go all-in on those fabulous renovations.Effective marketing plays a pivotal role in attracting tenants and increasing property appeal.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

But for large multi-family, that amount hardly covers your legal fees for one transaction, let alone down payment, due diligence costs, lender fees, other closing costs, etc.

He doesn't cover how you pay off the loan if you over paid by buying off the MLS, which is where he is teaching people to buy properties.

You will need to cover perc tests if needed for each lot and then hire a surveyor to draft the ANR plan for submission to the town, just treat wetlands as sacred Indian burial ground - stay away from them and your costs will be very low.  

Today, that building generates enough passive income to cover his annual retirement contributions.You mentioned taking the 10% penalty, which I’d only recommend as a last resort.

i am not looking to be spending my days on the lake, I am looking to replace my day job income, and growing my portfolio.... but it is important to cover my costs first, which not 20k/mo but, that is what i'm accustomed to regularly (or more). 

Another option is to explore private lenders or HELOCs to cover the equity.

If you generate enough money annually to dismiss a W2, then consider covering the ever increasing costs of retirement & health care and those do not go at inflation metrics but usually way higher.