I represented myself as an Associate Real Estate Broker.

It sounds like it would be the responsibility of the upstairs unit OR the Condo Owners Association, as it is piping from one unit affecting the other unit. 

Therefore, working with a large real estate lender (such as CoreVest..if you find a better let me know) opens many doors. 1 Portfolio Loan with cash out:All of your individual mortgages become one mortgage associated with an LLC which will be re-appraised at current market values giving the opportunity to cash-out.

The reason they do not allow 100% of the rental income is because they assume 25% will get eaten up with maintenance, repairs, management, etc (they are effectively accounting for your properties operating expenses) With that said, they place a cap on the qualifying rental income at your PITIA (principal, interest, taxes, insurance, association fees).

Mike,There is no specific time period associated with taking the first steps. 

use a website like fastpeoplesearch.com and search the property address. call every number associated with it and hope you find the right owner!

If you are purchasing only investment properties consider looking into Associated Bank, Educators and TruStone, because they are local they may have lower down payment requirements. 15-20%On the Refi Rates there shouldn't be too much change in your repayment amount, if we are only changing percentage on a 150k with 25% down 3%, and we change to 4% and everything else the same mortgage goes up about $60 a monthAdditionally, your first duplex in 2020 you have lived there over a year so you can get a low down payment and low interest rate loan on an owner occupied 2-4 unit whether that is through an in house bank/credit union product or the FHA programIm open to any questions you may have.

Airbnb you may make more $ but have a lot more turnover and associated costs.

Although the Association owns the majority of the building, typically you own parts as well.  

Additionally, with another triplex under contract and the associated costs, a partnership in this format made perfect sense.