I do recommend you talk to a lender when you are getting started, but typically they will only talk in general terms until you have an actual property picked out.

Hi @Roy PomesWe typically stay away from homes that are under contract with a Realtor. 

It is also not surprising that typical residential lenders would stay away from this type of property as well due to the commercial use aspect.

In any case,   one argument FOR holding onto smaller apartment properties in seattle is that townhouse redevelopment,  which requires the same zoning as small multifamily causes a lot of SFR and smaller apartments to be lost to redevelopment,  so this class of neighborhood scale and typically comparatively affordable housing is going to get harder to come by,   and presumably in higher demand as a result.

I'm interested in potentially placing some bids on some properties in Mecklenburg County in NC but am unfamiliar with how the due diligence process works compared to a typical property purchase.  

is this typical of the tenant base there?

Commercial is not typically my realm - helping a buddy out!

Don’t fault him too hard because by and Large His response is very typical of most people who share his ideology of getting paid as an employee .his thoughts on investing in real estate are solely based in fear because he is not educated on the subject and Fear comes from the unknown .

And yes @Dan Mason while properties under $50k can be found, as you mentioned those are typically the ones that are the aged homes needing a lot of attention and money to fix up.

What if you wouldn’t typically rent to this person (employment , credit score , etc) and now he’s on the lease, they split, and he’s a problem and won’t leave bc “he is on the lease”.