You want an email, it can draft it, you want a business plan, it can draft it- but every person should be putting their own style into their writing or their plans - otherwise it’s no unique and you are just another typical fish in the sea

The number of people who own 4-20 unit complexes can't be that big, I just checked all of Austin, qualified for 30%+ equity and >4yrs ownership, and it was only 268 unique owners.

Hey all, I thought I'd seek the advice of people much smarter than me regarding this potential scenario...I recently came across a property in an up-and-coming area, where the current owner is a mentally handicapped o...

@Carl Randal Some investors in Texas (and I realize you're not in Texas) will "close" at a notary but typically do so only in very unique (urgent) circumstances.

develop your own unique to what you're good at and what you like to do...and stay away from people like him, unless your wallet's too full of cash

The properties we bought, rehabbed, and refi'ed were all 2-4 unit buildings.We are in Connecticut, not Tennessee but the feedback we received from banks on the regional and national level was that other than the local banks that hold their own paper (portfolio lender who makes portfolio loans) there was going to be a 6-12 month seasoning period for the refi.  

Each will be unique.

So we'll be looking for other properties in the capital region to invest in.

But I would definitely talk to your cpa because everybody's setup is different and there may be something unique in each situation that allows you to do something different to maximize your profits and limit your tax liability.

Your plans might change down e road if you decide to scale.For my particular situation,  I don't payoff extra debt unless it is hard money or a unique circumstance.