And if they panicked and sold for a loss, they locked in those losses forever.

This property has a bigger lot, it's own parking and an entire extra duplex to it.

I recently discovered bigger pockets and have listened to a lot of financial freedom audiobooks.

I agree it’s not that great but it’s not a pure financial loss either (it would become only if you lack sufficient liquidity to operate the asset as planned over the period).

When dealing with a seller you will need to obtain:-Current Rent Roll-2-3 years of Profit and Loss StatementsThese are the two most basic elements in beginning to "pre underwrite" a loan for multifamily. 

Enough to cover you for a complete loss and potentially getting sued for numerous reasons.  

Hello all I’m new to the bigger pockets community.

Once our income is replaced, we will continue to add to our real estate portfolio and start looking for opportunities to invest into businesses.I came to join Bigger Pockets by searching the internet. 

If competency is an issue, you may have bigger fish to fry.In re: probate, you can use sub-2 language to make closing conditional on probate outcome and ability to convey fee simple title to 100% of the house. 

I started with the podcast on bigger pockets.