Kevin,I would avoid anything over 4 units for now because it opens up a lot of requirements when it comes to the underwriting approval.

Bylaws and rules can often be changed by the Board (depending on what the higher documents require), while the CC&Rs and Incorporation docs are intended to be more difficult to change and often require a vote with a super majority of all owners to change. 

@Marysue ConnellyI'm not a lawyer and this isn't legal advice.Currently, if you want to discontinue a lease that is expiring, you simply need to provide a written notice to vacate to the tenant with the appropriate notice period - our lease agreement states 60 days unless a lease is month-to-month, Colorado law typically only requires 30 days notice.

In real estate, this could be a growing neighborhood, a house or building that is turnkey so you have no maintenance, the worst house on the best block.

You only need a place to track tenant information, payment history, maintenance, etc.

The difference is if you switched lenders and that lender has certain requirements that requires a renegotiation, then you might have a problem if the first lender doesn't.

They require a lot of capitol as well as cooperation from the local city and/or county. 

REI requires $$$ and it's stated over and over again for a reason.

It is a simple process and requires a different filing with the SEC.

Sellers over price the property in their mind and belief, so it requires some negotiations once they are located.There are plenty of properties that have not been on the MLS to buy, but the techniques we use to buy them means we have equity at purchase and we don't need to use banks to do so.It does require capital, and an understanding of what makes for a safe investment.