Demand Analysis: Assessing market demand, occupancy trends, and economic factors influencing demand.4.

Happy to connect with one of our Chicago attorneys.What is the exact situation with the building and your friend?

Hey BP family,I am new to real estate investing but would love some experts insights so I don't get burned on my first dealThis is the property: https://www.zillow.com/homedetails/724-N-22nd-Ave-Bozeman-MT...My thoughts are my wife, 8 month old and I could live in Unit A for a year or two while we rent out Units B & C to help cover the mortgage payments until we build/buy a more desirable family ranch home with min 10+ acres which we've been looking for but have yet to find.My hesitation is I've never been a landlord and am reluctant to get in over my head with property problems while simultaneously growing an online business and being a new father.After some negotiation we counter offered 895k with a 2-1 rate buy down for 20k and the sellers have verbally accepted but since our offer expired we need to resubmit.

I am planning either a 3-story 27 unit apartment building OR if I can purchase the combined 0.8ac parcels on each side of me, construct a gated condo community with end to end road access.

But the factor helping you is the amortization of the loan (principle paid down on the loan  by the tenant).  

There could be other factors that fit as well, missed payments, illness, job loss, vacant, poorly run rental.

Plus 25% depreciation recapture (about 0.9% of the building value per year owned.) 

One thing to keep in mind is there are programs that "Do Not" require employment seasoning so 6 months is not a factor with a few new programs. 

I personally have 12-doors there and focused on the BRRRR method when I was building my portfolio.

My carrier, Mercury, opted not to renew because my buildings turned 60 in 2022 (policy cost = $11K).