Additionally, forming a new LLC may require obtaining a new EIN and business bank account.This post does not create a CPA-Client relationship.

If they’re underfunded, you could get hit with special assessments.Not sure about the exact contract with the tenants, but I assume if there is any additional assessment, it would be tenants’ responsibility.Since you want to stay local and focus on cash flow, commercial makes sense, but have you considered industrial or flex space? 

I think what @Garrett Brown is getting at is using this in addition to other methods.

If we waited 12 months and got up to 80% occupancy would have netted an additional $500,000.  

@Kathy Fettke You're doing a great service by providing solid information.

Then if I have additional concerns I call in an expert to get further information and an estimate on what the repair will cost.

Additionally, depreciation deductions on the multifamily property could offset a portion of your rental income, further enhancing returns.Key considerations:- Financing the multifamily: Would you go all-cash or use financing?

Once you have cash in hand, you can unlock the unit for 24 hours and let him move his stuff out.I would also consider charging an additional deposit of $500 or something, just to prevent him from leaving all the trash or stealing your refrigerator.

There is only a $3 difference increase to move to RentRedi, but the customer service is amazing.

There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues.