I ran a bunch of numbers and I think going the HML with a refinance with them after 12 months is the way to go.

Good afternoon everyone,My dilemma: Contemplating Purchasing first 2-family home. 3br lower 2br upper Pros: - Location, in the heart of town- Tenant paying $1500 for 3br and wants to stay (been there four years)- Water heaters, Furnaces newer with separate meters for each unit- Natural Gas - 2 Car garage - Corner Lot- .24 acres- Based in rentometer.com 3br rent for $1700 on average and 2br $1550 on average for its location- 3BR has one and half baths- Laundry hookups both units - FHA Loan, less down payment- Owner occupied (id live on the top floor while renovating)- Foundation is solidCons:- 2BR needs a complete renovation to the studs- 3BR needs renovation but nothing right away (tenant is happy as of now)- Leak from fireplace/roof which is ongoing- Taxes are $4500- Price listed at 360k- Comps have sold around 330k, but don't have the garage or location- No cash flow until I were to be done renovating and buy another- Some plumbing neededI got a CAP Rate at around 8.5% with it being sold at 360.

The mixed use may present some challenges for ongoing management but nothing you can't handle with careful diligence.

You shouldn't have much trouble finding a deal as long as you have the financial figured out.Congrats on going pro with basketball that's impressive. 

. - I ran into this same problem with an investment condo I was holding about two years ago and needed to get a portfolio loan.  

There are some landlords that are lone wolves and will be seeking out a property manager themselves, my experience has been that most landlords that are going to be considering hiring a property manager are going to seek out a referral from other landlords or their real estate agent/broker.When looking at acquiring landlord clients to manage properties for them, you may want to consider marketing to find on-going sources of business either in addition or instead of going directly to find the landlords directly yourself.

Here is a screenshot of the BP calculator I ran with the numbers. 

A lot of the "higher-end" providers that have been on the BP podcast are all about building an "ongoing relationship" (i.e. monthly fees).

There's an ongoing Airbnb dispute at the moment - judge ruled a law regulating the airbnb's was too vague and therefore unconstitutional.  

Some failures are bound to Japan and just keep on going.