Rent larger home, use cash to rent a smaller home/move to retirement community (disadvantage: less community of older folks; advantage is we can continue to own the home but make money off of the rent payments; but now we have to manage new renters)Basically asking if anyone has experience moving to a retirement community, and what the optimal move is with our current real estate assets.Where could we talk to similar people in this situation?

But if I were in your shoes I’d weigh a few different options.  1) you could refinance your existing property and pull out a bunch of cash and use that to pay for additional down payments. 2) 1031 exchange into a larger 5 plus unit. 3).

It's a multiple choice test.

My point is that if skyscrapers is your niche of choice, don't expect to close many deals.

As a practical matter, you might be able to get around it by including a jurisdiction/choice-of-forum clause in your loan documents.

Because his expenses excluded management and other necessary fees, his NOI I ended up looking larger then it really is.I also completely agree about what people are buying.

My dad brings a lot of experience to the table when it comes to renovating a house so I’ll just have to make a choice

That being said, be careful because if things went south, it could result in a major penalty Might have been better to post a hypothetical question and a faux story to get the answerFHA loans are owner occupied, 5% down also likely owner occupied - read the contract Once you have 20%-25% equity in, you can refinance and go conventional I can't recommend either way for you, but I can say others have done itOnce your loan is conventional, I'd say you've got very little to worry about - the choice is yours

It certainly makes it difficult to get into those, as (if you're like me) you are financing and can't risk a zero condition offer.Flipping in Smiths Falls I think would be a good choice.

Commercial - I'm thinking retail, office, or larger multis- More risk since there is a higher cost of acquisition and dollar amount needed to get started.