Especially when investing out-of-state, take into account the time, work, and obligations needed in maintaining the property.Create a Long-Term Investment Plan: Develop a long-term investment plan that outlines your goals, strategies, and timelines for acquiring additional properties.

BackgroundI own and self manage six multifamily properties in Providence, RI, acquired between 2008-2013 at great prices, with less than $50K in total debt remaining.

This would depend on the appraiser giving value (as you're accustomed to), and additionally, a comparative rent schedule using short term rental comps in the area. 

We refinanced to a lower rate, then immediately moved out and acquired another house.

It can run $20k or more, sometimes yearly.Also they can change management companies any time, resulting in additional fees, renovations and style changes to common and in unit furniture.

203K is not affected the addition of units. 

Added additional unit and rehab current units to increase value.

If you can increase an additional $200-250/unit that might be something to consider.

He was an additional tenant to the lease and knew the current tenants, so after his application was approved he just simply moved in with out notice and or signing the lease. 

I shifted focus but def plan on going back to the strategy and ultimately plan on graduating to deeds so I can acquire the land.