Hope I can get some advice on how I should structure my second multi-unit deal.Quick background, my wife and I bought our first property, a 4-plex in Salt Lake City just over a year ago (FHA owner occupied loan).

I was in a condo on Lake Horace called Collins Landing.  

Salt Lake REIA, Utah REIA, Utah Valley REIA and Northern Utah REIA.

The new product coming onto the market, on average, is $1,500 a month or higher for two bedrooms,” he said, pointing to Chelsea Place near Quidi Vidi Lake, and noting a planned apartment complex on Ladysmith Drive.

Also, this is not legal or tax advice.Where I live and have lived (Missouri, Oklahoma), you don't usually install straight electric heat unless it's a really small house (less than maybe 1000 sq ft) or seasonal, like a lake house, hunting cabin, etc. 

My office is fairly close to you (Lake Stevens), feel free to reach out.

One is in Lake Forest, which is the 3rd Wednesday of the month at 7:00 p.m.

Recently relocated from Salt Lake City and originally from the Sacramento area, my wife and I are new to the Truckee/ Reno area and are interested in lease options.   

The equity based on the 10+ years means 2 things, 1)  It's been 10 years plus since they dealt with the price of the property, so they are probably not current on values which can be beneficial to you.2)  The 10 years + means they have built up quite a bit of equity which will help to make your deal that much more profitable.Ex:  In central FL, during the boom when everyone was so pleased with deals 70, 80, even 85 cents on the dollar, I got a deal on a 4br 2ba 2 story historic home 3 houses from the lake for 25k.  

I am doing a duplex right now around whiterock lake in Dallas.