Who is your Third Party Administrator.

They may have growing pains issues - I cannot attest to anyone else's experience  but as of April 2022 I feel like things are going in a good direction with the new build properties he is developing and he has been genuinely interested in my success with his company. 

While Section 8 offers benefits like guaranteed rental income and a larger pool of prospective tenants, there are administrative requirements and potential differences in payment expectations to navigate.Before making a decision, conduct thorough tenant screenings to ensure tenants meet your rental criteria beyond their Section 8 status.

I'm applying for various Leasing Administrator and Assistant Property Manager roles, although it's a slight career switch from my normal day job as an executive assistant.

>>>>>>>>>>>>>>>>>>>>>Multifamily bridge loans:Loan Size:$1 million and upLoan Term:Short-term, typically ranging from 6 months to 3 yearsMost common range is 12-24 monthsExtension options may be availableInterest Rates:Higher than permanent financing, often in the teensRates vary based on creditworthiness and collateralGenerally 7-10.5% for multifamily, 15-24% for other commercial propertiesAmortization:Typically interest-only paymentsMaximum Loan-to-Value (LTV):Up to 75% of total project costCapped at 70% of the completed or stabilized property valueFees:Origination fees, legal fees, closing costs typically 1.5-3% of loan amountFees can include appraisal, administration, escrow, title policy, and notary chargesOther key characteristics of multifamily bridge loans:Fast closing process, with funds available quicklyEligibility based more on property value than borrower creditOften used for acquisitions, renovations, lease-up, or repositioningProvided by private lenders, venture capital firms, and commercial real estate lendersNeed to be refinanced or paid off quickly via sale or permanent financing>>>here is how extension options can impact the overall cost of a multifamily bridge loan:Extension fees: Exercising an extension option on a multifamily bridge loan typically requires paying an extension fee to the lender.

This people are a pain in the ***.

I have the MLO and continue the CE but as you mention, the call reports etc, are very painful.

I am sorry to hear that and understand the pain of putting money into an investment property?

It would be a long, painful, drawn-out learning experience for you, and unless you plan on specializing in assets like your duplex for the next 10-15 years to get your real estate investing career off the ground, I don't think it's worth it.I do speak from some experience here, Marlia.In 2017, I bought a duplex that was a converted from a big old single-family.I bought the duplex for $5000 at the county sheriff's sale.

Small pain for long term gain though.