I currently have 8 units (9th owner occ) in that triplex, a duplex (2009), and 4-plex (2014),  all in south seattle / burien areas.Seattle is way overpriced and IMO due for some kind of correction right now ;  I don't see how things can continue to appreciate like this,  and at least within seattle itself many smaller MF properties are worth more for the dirt under them than the structure itself just for the redevelopment potential,  which is unfortunate at least from the perspective of an buy and hold investment viewpoint and availability of decent and comparatively affordable rental units in neighborhood-scale buildings. 

That's OK I'm a degreed accountant and I don't do cost recovery and lifo is some kind of surgical procedure I think!

I have been looking at the tampa area and I see a bunch of condo which cap rate ( after  RE taxe and HOA fee) are around 10% ( priuce point if around 90k).What do you think of these kind of opportunities ?

I think the approaches above have ruled out any kind of conventional mortgage, so I'm left with commercial loans/private lenders.

Hi Guys, I am interested to know the strategy to buy +60% of controlling shares of Co-Op building in order to convert it into rental units, has anyone been involved in this kind of deal?

That seems like the kind of information they could provide quite easily, also would like to build a relationship with a realtor in that area.

It's kind of confusing because I'm expecting a "no" from them, but it's as if they want me to spend $4,000 - $5,000 on an architect to get the "no." lol

View reportHey guys,Any kind of feedback on this deal would be greatly appreciated! 

You can get a few properties with that kind of investment!

I think umbrella policies can cover you fine for the most part, but I also am a big fan of just kind of keeping my mouth shut about how much I own.