@Craig PoskusHi Craig, I realize I'm late to the game here, but wanted to share a couple of salient points.1) @Paul Caputo answered accurately and quite in-depth, but I want to add one more item to his.

Not sure how this would play out, and my brother and I will find out soon, as he is doing a 203k on a fourplex in DC and converting to condos.

Real estate is a numbers game.

Hi Bigger Pockets,I'm new to the real estate investing game.

The game rules change and start making real sense starting around 65+ units, depending on the usaulal factors of course (location, demographics, jobs, companies, amenities, etc.). 

One possible play depending on location and home condition, and I know its sacrilegious to suggest in this forum, is to sell the homes off and see what you can get for the land. 

Im looking at expanding into the BRRR game.

The game rules are more advantagous once you get over the four-plex mind barrier.

If only I had a crystal ball ;)  your already WAAAAAY ahead of the game  carry on  !!!!

@Chris Seveney  chris is suggesting a money partner and mostly these are done through syndications were your the sponsor but most investor want to know the sponsor has some skin in the game and is going to be there at the end or if the going gets tough.