Just called one of the banks and they require a business plan for a multifamily, is that typical for a lender?

I can speak Portuguese, so I don't have much of a language barrier.

I had to put about 25k of my own money into this first deal between the down payment, agent commission, inspection, closing costs, and holding costs, so I'd like to get as much of that covered as I can on my next deal.

You will be showing a paper loss on your rentals so you want be paying any taxes off them.

Remember that interest rates are variable, so they can change over time. 

Hi everyone,Thank you so much for the warm welcome!

So outsourcing some degree of property mgmt would be a must... but the deal won't work paying a local property manager a large % of my revenue...Instead, I would set up my "boots on the ground" (cleaners, handyman), and would need an offshore virtual assistant to manage guests and coordination of my local team. 

You’ll want to check out the PA Code's Chapter 2800 for the standards around licensing, safety, and staffing requirements, and the Assisted Living Residence Regulatory Compliance Guide can provide extra insight.We actually have a local team here in Allentown that has worked on several of these conversions, so if you'd like some guidance or just want to chat through the process, feel free to reach out.

I am new to BP so far I really enjoy all of the information that is at your fingertips and the awesome advice.

When you say, build the first one, do you mean you are building multiple different storage bays with six or so in each?