What you have effectively done is ruined your returns on the other properties in order to purchase a deadbeat.I understand the point of your original post was not to get into this part of it, but I caution you on your approach to investments.

One guy doesn't get his stuff done on time or under budget and what one does effects the entire project.I've seen money break up families, it can certainly break up friendships much less partnerships.I'd suggest, if you have other irons in the fire that you might consider staying out of the way in rehabs, take care of the business side.

I really am confused as to what track to take and I am not up for wasting my time.Help me figure this out!!!

. ** When I advertise these homes for rent, I always explain that the master is on the second & the other BR's are on the first, nothing worst than wasting time to show the home to people who will never want it at any price because of the layout of the BR's.

Then revisit the parking issue later, and what effect would turning a conventional financed property, into a 6 unit have on the mortgage?

If so effective rent can be lower than gross rent.

I guess you didn't read the rest of the article or accompanying linked articles where he provides a SYNTHESIS of opinion.Not reading article = garbage opinion = waste of time

Everyone is blaming the new laws that went into effect in early Jan.

Depending on what you are looking for, I may have a very cost effective option to point you to.

I'll do more research on the short sale.If we drop the price drastically - does a for sale by owner make sense or is it generally just a waste of time?