It's great that you are focused on obtaining a multi-family property to make passive income.

None of my clients live in Montana, and we can discuss on how we can do live showings of property from your living room.

Please call me to discuss several options one of which is me paying your moving expenses “This opens up a conversation, that will help you determine why they don’t want to move or are not responding.The expense to move may or may not be a whole lots (cash for keys), instead of them wasting months of your time.

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Even though we increased the value through forced appreciation in the last year, any equity within the investment is producing the monthly return so it’s too much equity in correlation to such little cash flow...we will have to discuss selling it and crunch the numbers with the view you’ve given me.This isn’t our first deal, so there is still a lot to learn.

Basically a HML is another way to obtain a loan, just like how you finance your properties with a bank / mortgage broker.Most of them will finance repairs and acquisition.

If it is US Bank, there will be no one that will discuss or entertain selling to you other than once they have readied the unit for sale and placed it with their broker.  

As to the cost of obtaining a license, I doubt it costs thousands of dollars anywhere.

But some people are looking at creating two different entities and structuring it in such a way so as to be able to take advantage of the tax arbitrage in rates.These are all things you will want to discuss with your attorney and CPA.

If I sold my rental at what I bought it for, I would obtain 15k equity for the multifamily.