Whiplash effect.Trucking- onlyso much capacity thus shipping steel has to work its way through,along with other material, thus Chinese steel won’t all of a suddenflood the market lowering the price.My background is asa Controller/CFO, thus I like to look at scenarios versus justthe above Verbage.

Deal breakdown:100k multi family 4-plex that the seller inherited from her parents.

Rent control is not something I've ever bought into.

I’ve been out on Anna Maria Island for 10 years now and the prices are getting out of control here too.

From the loan servicing guide:Notes: For all such transfers affecting mortgage loans purchased or securitized by Fannie Mae on or after June 1, 2016, the transferee is not required to occupy the property.a limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.https://servicing-guide.fannie...

It is a two family home in NJ costing about $380,000 total including closing costs etc. he found the deal privately through one of his workers parents who want to sell their home.

I agree with John, as long as you have someone to call for any issue that may arise, then you are good to go.Make sure you have smart devices like locks and thermostats that you can control from your phone.The most important person you will need is a reliable cleaner!! 

Start with a rent survey ie 10x10 climiate control maybe is $110, 5x5 is $85 etc.

Contact local pest control experts, contractors, home inspectors, etc. and ask the questions you want to know more about - this is what I have done.

Purchase price: $10,000 Bought the Mobile home as-is from an out-of-town person whose parents, unfortunately, had just passed.