Working with a RE Agent to find interested sellers of small muliti-fams in a competitive and "hot" market in the New York Hudson Valley; the agent is both working as the RE agent and as a 50/50 partner/investor on the deal.

I did consider it for a hot minute, but I didn't want to, nor did I have any money to get a loan.

Especially if the single mom isn't 'hot'.  ;-)AG 

AllI recently posted in here about how hot the market was in NE Ohio (specifically in certain areas/markets).

It was definitely a hot topic to this room of investors!

Muti-family is super hot in Toledo right now.For giggles run the numbers on you buying a $100k duplex and renting out the top and bottom for $600 each (you would take one of course but project it like it's a full rental).

When I accepted an offer from a prospective buyer in February.They ended up not purchasing my condo due to the hot water pressure being too low and the rental restrictions.The hot water pressure problem was due to the pipes needing to be changed.When I asked the HOA if the problem could be fixed, they said they could not fix it because they did not have enough money to do so.After finding this out and combining this information with what I had already known about how the HOA was being ran, I decided to do a little investigation to see how the finances were being managed.I requested copies of the financial records and several other documents for the last 10 years so I could review them to find out how to funds had been being managed in the past.The secretary, which is who I requested the documents from, emailed me back after I made the request telling me to not contact her anymore.She alleged I kept contacting her while she was at work.This may have been true but I was only doing so because she never told me the times that she worked.I don't know her personally and I never have been disrespectful towards her when I called her for anything.So, I could not understand why she got so angry.Anytime I would try to contact her after that, she would not respond so I stopped contacting her.She would only respond to my attorney that I was working with to sell my house even though the documents that I was requesting from the HOA had nothing to do with selling my house.I was requesting the documents for myself.I always have been a firm believer that people who don't have anything to hide don't try to hide anything.I am not saying the board members are stealing any money but I have reason to believe something unethical is going on.I ended up selling my condo a few days ago.The HOA provided my attorney with some financial documents that my attorney had requested for the sale.However, I felt that the information that the financial report provided was vague.It could have been created by anyone who knows how to use Excel.I wanted to see bank statements, audit reports, and documents that I feel are more concrete evidence.Even though I no longer live there, I don’t want to allow the HOA to get away with behaving this way.If I do, that gives them permission to continue to stonewalling people who request information from them.Based on my narrative, what do you think I should do?

I am doing a lot of all these in a hot little market close to the Tryon International Equestrian Center.

I will say this, if you get it for 660K then that is what it is worth it is not worth 700K if it was that would be the purchase price especially in a hot market with a multi bid situation.

Not knowing you're exact area or price point, I would recommend looking at multi units in San Pedro (the last affordable beach left in the west side), Long Beach (heavy rental market), Fullerton (great schools and universities), Monrovia (the next Pasadena), Korea Town (the new echo park), mid-Wilshire (excellent rental market), South Adams (the current hot spot for flips), Cypress (near Oxford Academy), Duarte (the next Monrovia, stay above foothill).