Yup this is right out of the Sub Too guys play book. 

It’s stable cashflow and long term appreciation and tons of accelerated bonus depreciation on taxes. like most anything in real estate it’s a long term play. 

When you go to sell, Montvale requires a certificate of occupancy so this issue has to be resolved in advance of a sale.Although I am not a lender, I assume you will not be approved for an owner-occupied mortgage on 5-units if it is a legal 4-unit without some type of mortgage fraud whether in reported rents, units, or another legal document or representation (very very large issue from a legal perspective with multiple arrests in the last year for anyone playing fast and loose).As far as the DCA, I would recommend coordinating your work with the city with the DCA.

So I require skin in the game (average is 5% to 15%) to offset this.

I think the bottom line is that he played fast and loose with our money.

I’ve been researching a lot about the basics, but I know there’s so much more to learn, especially from those who’ve been in the game for a while.I’d love to hear from experienced wholesalers about their journeys and any advice you have for a complete beginner like me!

There is really no reason to roll the dice in a craps game.

As you discover opportunities, continue looking for the longer play!

I would only consider Decatur for a cash flow play, not an appreciation play.  

It’s a game-changer.