The paperwork on the self-managed HOA, tax, and city records indicate there hasn’t been a change since the property’s Inception in 1984.  

Of course, this comes with the FHA downsides of paper work and life-of-the-loan PMI.Lastly, have you run a full rental analysis?

This amount could be negotiated if you only need the realtor to push your paperwork through. ie, they're not doing showings, and searching out properties, just doing some paperwork.

.- some tenants will not honor the lease and won't keep up with the lawn or snow removal- slower ability to scale: it'll take a lot more doors with singles vs. multis to reach your number of units or cashflow in mind- value is dependent on the real estate market vs. current income being generated- you can only get loans for up to 10 houses, sometimes less with certain lenders, before having to switch gears and find other ways to financeSingle Fam - Pros- most leases are set up for the tenant to mow the lawn and do removal- the appreciation is usually decent if you buy in the right area- usually more affordable for investors who are just starting out- easier to sell if necessary- easier to analyze the property and run the numbers for the newbie (comps, expenses, expected rent, etc)Multis - Cons- harder to sell if necessary - mostly only investors will be interested in buying the property- you'll have to be sure to budget for lawn care and snow removal (can also be a pro and not con tho)- if it's more than 5 units, most typical lenders will not be able to help you and you'll have to look to commercial or other means- it may take longer to run the numbers when analyzing the property because it depends on the generated income, talking to the right people to get an idea of what it could rent for if certain repairs/rehabs are made, knowing if/how to lower some of the expenses, etc - this is again why it's important to have knowledge on multis and/or a good team to help you with this, which is why it's not always newbie-friendlyMultis - Pros- if a tenant leaves, you still have at least one other tenant still paying some or all of the expenses- the value of the property is tied to the income it's generating, and not the current real estate market, aka YOU have the control over the value of the property, not the market- you have more than one unit under one roof generating cash flow, and therefore the ability to scale faster- commercial loans, in terms of paperwork, are easier to obtainTruly tho, one can't say that multis or singles are always better in ANY given area.

Select your partners wisely - Realtor, Lender, 203k Consultant, and ContractorREALTOR - it's recommended to work with one that has done a 203k in the past so they know what verbiage HUD wants to be added to the purchase offer contract and how to structure the deal.Lender - advise you to select a lender with verified 203k experience; the lender is the quarterback in the process, controlling the rules, paperwork, processes, procedures, and if the lender does not have sufficient experience with the 203k, your entire process can look like the Cleveland Browns on a Sunday afternoon.203k Consultant - The 203k Consultant determines the scope of work and pricing for the project and inspects the completed work; the lender is responsible for selecting the 203k Consultant (refer to Lender paragraph above).Contractor - strongly advise you to select a contractor with the accreditation as a Certified 203k Contractor; keep in mind that the contractor does not necessarily determine the pricing for the project (see 203k Consultant info above) but does need to know the different versions of the 203k, payment methods, timelines, paperwork, forms, and processes; definitely don't want to work with a contractor who is going to "wing it" on a 203k.You're only as strong as your weakest link.

Keep in mind that property managers are going to charge service fees to handle this paperwork and be present at inspections on top of their normal placement fees and monthly fees.

I've had enough of all the paperwork and problems so I am changing my policy this month and will no longer accept Section 8.

But if they decide to accept my offer I'm going to need some paperwork, some official forms to fill out and be signed so that I can actually get a property under contract.

They did a great job of walking us through all of the paperwork and understanding differences between the 'provide' (the paperwork) and the 'custodian' (where the monies actually are).

Step 2, file paperwork and a try to make a case, they lowered the value like $10k or something.