I have been successful in making wise financial decisions by adhering to this approach and avoiding typical mistakes.Work hard, work smart!

Typically, my roomies/ tenants become good friends of mine. we live together, build friendships over time, etc. so most things are done pretty casually.

One unit is occupied, tenants are month-to-month, tenants pay for all utilities, except water.

I expected to be fully set up after the 4 sessions and now 5 months later I feel like I’m utilizing about 80%.

I am currently in the process of leasing up a vacant property we’ve been renovating however and that has SIGNIFICANTLY increased the amount of people time that I have had recently so for you if that is a huge issue I would not recommend getting involved with any vacant properties that involve total lease ups or else you might just prefer utilizing a property manager.

Provided utilities, roof, bathrooms, kitchen, etc are operable?

Hey @Justin Williams,I'll start by saying even the most flexible loan scenarios will look at credit. how it relates to the loan process, however, will differ depending on which loan type you go with. my gut punch reaction in this is that your credit score is more about limiting your LTV due to the subject prperty being a multi-family, or potentially driving the rate up so that you no longer qualify (rates are higher on MF than on SFR typically)....it also could be about how your lender is calculating (or not calculating) the rental income coming from the different units.

Commercial loans are typically shorter terms with a balloon payment at the end of the term and are more strict regarding the cash flow and investor/owner finances/assets. 

@Ruth S.If you are the borrower typically your private money lender drafts the agreementsThe docs we use are standard except for the security instrument as that changes by state as some states are deed of trust and others are mortgages

I'd like to explore card operated laundry to provide that as an option for tenants, to offset the cost of running the washer and dryer while I pay for utilities.