If it's publicly traded, that's a different matter.

If you can buy a property where all the work is done and it is cash flowing day one, it really simplifies things and reduces risk. 

The application process has reduced the number of times we have to show the apartment before renting it. 

At least that'll blend to 12.5% over 2 years.Referral Fee: Talk to your existing tenants and tell them you'll reduce rent if they know somebody who will move in. 

Now, I never really looked in public records to see if the own it but they may or may not be telling me the truth.

The added benefit of this process is that you can also have your attorney sign the public records as "Nominee Trustee" before assigning yourself as the "Trustee" once the trust has been established.

While the triplex is currently fully rented out, grossing $1,725 per month in rent, we would be looking to occupy one of the units for at least 1 year, primarily as a way to reduce our down payment from 25% to the 10% range and keep more available capital on hand. 

It is to reduce risk as one ages and can not recover for a downfall. 

I could reduce outlay with a 30 year note, but the plan is free and clear in five.  

You can always ask the selling agent if they are willing to reduce the commission rate if they represent both sides, but I cannot see any agent giving up a whole 3%.