You don't have to use a QI like in a 1031. 

Or would you not try to do this deal at all and wait to build up the cash position to fund the down payment, which could take 2-3 years?

@Thomas Roarkhappy to help, but do you have more specific questions? 

Hey everyone, new member here.

How often do tenants on month to month need to resign lease?

I would vote bookshelf, since in long term rentals, typically, you want the least amount of things you will need to fix, as possible.If short term rental, than Murphey bed would be my vote, typically.

You are correct, that this has long been the conventional figure used to estimate cost for buildable sf in NYC. 

Here’s a quick way to evaluate:Calculate NOI: Subtract expenses from gross rent (e.g., $550 x 8 units x 12 months).Determine Cap Rate: Research similar multi-family properties in your area to find the typical cap rate.Estimate Value: Divide NOI by the cap rate.

Hey Leslie, I'm an agent down here in Macon and work with mostly investors.

@Ian MillerTons of great comments already to this post.