There is a foreclosed tri-plex I was interested in buying and was talking with the bank to make the deal happen but I went to the City Building/Zoning dept. and was told me that they have rezoned that area to a single family area and that the tri-plex can no longer be used as a tri-plex.They said the house was grand-fathered in and as long as the inspections were kept up that it would have been ok, but since the house was sitting in foreclosure for longer than 6 months with no inspections done, the house converted back to the newer SFH zoning rules.So basically, the tri-plex is useless as a rental.Has anyone dealt with this kind of issue before?

I have since learned that I only need to hold onto the properties for 5 years as the tax consequences when converting from C corps to S corps has changed.  

The bank I spoken to seems to convert to a commercial if a property is bought as a rental, which makes sense.  

Also you can have a 30 year with no PMI once you drop below 80% loan to value in most cases.If the loan was originally FHA ( residence converted to rental later on) then you are stuck with mortgage insurance through the life of the loan until you look at a refinance.

I'm looking at a home currently that doesn't have a garage, it has a big room were the garage should be. The home is great other then that factor. Because of this the home is way under the average price of the neighbo...

I would look at what has the greatest possibility of converting into a client.

I use Windows Movie Maker for editing but after finishing you have to convert to another format.How does it sound on your speakers?

In a couple of years take it out of production, sell your current primary tax free and move in converting it to 121 property and a large portion of the gain from tax deferred to tax free.  

It's not as liquid as cash, obviously, but you can convert the property to cash if you need to.

At some point, I am sure that I will want to slow down and convert to notes.