You can also pay it down while living in it and sell it and take the profit and put towards a home later on. 

And when your net sale is complete your accountant will take your net sale and net it against your adjusted cost basis to determine the profit and depreciation recapture portions of your gain. 

The economy is growing, companies are hiring, and the housing market is hot, with this suburban enclave spreading farther into the Mojave Desert.But the recovery has been uneven.Although the Las Vegas area is booming, the middle class is still getting squeezed.Steady growth across the country has lifted the stock market and corporate profits.

That's why you always collect information about where they work, bank, get credit reports, etc, so you have something to pursue.

Of course if you could acquire ALL of the neighboring buildings, you could have much greater control and rental price influence.My guess is that the owners of these buildings are essentially just parking money and not pursuing a value-add strategy.How do you all approach this sub-sector of Multifamily? 

In terms of profit, this project actually ran over budget, and there won't be any true profit in terms of ARV vs all in costs.

It is in fact very easy and profitable if you are smart about it and manage risk well.My advice is to start off looking for deals for a wholesaler so you have access to their expertise and analysis.

I understand the disclosure of such information to any prospective buyers but I'm interested in receiving input from agents and investors who may have some insights on the pros and cons of pursuing this type of an investment.

It's a trade off they understand will be more profitable in the long run.In the past, I have picked up a lot of Landlords from eviction court. 

$100k goes in to my LLC (sourced from 3 co-owners)$100k goes into RE LLC to become Limited Partners, owning ~1.5% of RE LLC propertymy LLC gets quarterly distributions, based on profits from RE LLCat some point in future (3 years?)