However, recently I'm beginning to see more options and better choices.

If you go the traditional route getting experience and all that.   

I suspect selling now would be the best choice, given the market and lack of capital gains (under threshold).Not sure how to calculate this easily – I've tried using the BP rental property calculator, but my numbers are all off since we've already lived in the house 8 years.

The truth is that this loan is very complex, and is really designed for traditional home owners to purchase a new home and slap some paint and carpet in.

Most "traditional" Chicago 2-4 flats are constructed with the units vertically.  

I always struggle between the choice of faster payoff with less cash flow versus higher cash flow and longer term. 

One week before the closing we all realized there was no way that we could have moved forward with the transaction because it was too risky.We had no choice but to go back to the seller and renegotiate the purchase price.

I found the Direct Lenders were requirements were as stringent as a traditional bank, but with a higher interest rate @Ian Walsh  I really thought I could get a quick HML and either do a fast flip or get it rented and refi with my local bank.  

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $167,000

Four-family purchased with a 25% down payment. 30 year fixed-rate residential mortgage. I was able to r...

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $185,000

This was my first investment property purchase. Four-family purchased with a 25% down payment. Was able...