They want to ensure that the property NOI is amply covering your debt service, and therefore able to cover the yield on the mortgage bond / MBS.As a quick example, let's assume that your property NOI fell significantly, because you decided to simultaneously renovate 25% of the units all at once (taking them offline, and causing NOI to sharply fall for 2-3 months).

Similarly, if you put all Class D tenants in a Class A 4-plex, what do you think will happen?

Looking forward to learning alongside you all and doing what I can to help you as well.

Carpet is damaged, couches were destroyed, and all other tenants are complaining of fleas. 

It all comes down to who is going to manage it.

I'm particularly passionate about learning different strategies and closing my first dealExcited to learn and connect with you all!

When you say fully renovated, do you mean you did the work with all required permits and are a contractor?

If not, I suggest waiting until you do.If you use up all of your equity on your current home, rent it, and then need a new roof or boiler, your attempt at your first door will go sour.

I know the markets and interest rates change and so I am wondering if the strategies discussed can still all be used nowadays.

The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the current bonus depreciation rate at 60%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.