Similarly, newer buildings might only need cosmetic touch ups to bring them up to modern standards.This isn’t single-family residence where you can estimate an ARV (good points by @Michael Le), stick your thumb in the air and estimate.

Locking in your profits of your primary residence may sound appealing. 

The kink in all of this is that I have $16k balance on a 401k loan that I am still repaying, that I took out to buy my primary residence two years ago.

Also be sure to inspect prior to lease renewal in case you need to use it as leverage for correcting any issues before agreeing to renew or find something that merits non-renewal.sample letter:Tenant, Thanks for being a valued resident over the past XXXX!

Turns out, the majority of our residents are widowed and want 1s.

It appears to be getting closely managed, but still I wonder how you add 500,000 residents when the reservoirs are declining. 

They were all within 2 or 3 miles of my personal residence. 

If there is fire, smoke, water, or storm damage to the unit  and they are forced to move out while repairs are being made - the Renters policy will pay a set amount of money towards their temporary residence (hotel) until they can find a more permanent place to live or you are ready to have them move back in.

So I figured sky commuters would be willing to fly 30 minutes from DC to get to their residence, and assumed a 15 minute trip to wherever they needed to take off from (this was all pre-9/11 of course). 

Are you planning on continuing to invest in multi-family residences with family?