Lots of people expect the Obama Library and other developments to push value in this area of town.About the deal, based on my analysis I see 6-units having about $3500 in water expenses annually.

Please include any details on your experience with the recommended firms. 

This particular property came up the other day and below are the details.

This particular property came up the other day and below are the details.

However, one thing I would add is that, when vetting a Sponsor/deal, their acknowledgement and analysis of a "bad" situation is certainly welcome.For example, a sensitivity analysis that supports say a 2-3% return even if occupancy and rents don't come anywhere near projections, is still relatively attractive given potential returns on other investment vehicles.If a Sponsor you're considering is all rainbows and sunshine, I would take that as a red flag and move on.

So in all cases but one the spread is greater than 3%, and in that case (using higher-interest bridge debt) we plan to refinance into lower cost debt by year 3 which will then create a spread in excess of 3%.Unfortunately buying commercial income property (includes multifamily) requires very sophisticated financial analysis and there are no shortcuts or rules of thumb that will give you the complete picture. 

I do only have this one house, and I keep very detailed records, but I realize there are suddenly a bunch of tax rules that may affect me and I know little about.Should I have a home inspection done to determine any code issues or safety issues to correct prior to converting the property to a rental?

I work in information security, so I have a strength in combing through details and considering risk.

Can't thank you enough for taking the time to give such a detailed response!

I'd more than happy to share details as I'm a newbie myself.