This works fine for value add multi-family or office where the pref can be paid from existing rents, but not for ground up where income must wait until the project is completed.Where ground up is concerned, the only way to fill this investor demand on most platforms is by offering current pay on the pref from day one, but the only way to do that is to raise more money from the same investors. 

I owe $230k on a 30yr fixed at 3.5% with about 23 years left to go.My concerns are: losing a great rate and paying taxes/commission on a large chunk of the equity. 

But, anyone looking to buy a 4-plex is concerned about one thing: ROI. 

This tenant is month to month and can be given 60 days notice to leave so we receive it vacant (double checked to make sure and it's legal).

My daughter's friend turns 18 at the end of August, her grandmother has already said once she's 18 she has to leave.

My question is, if she doesn’t leave on 7/31/18 then what do I do.

If you can't find reviews, be very concerned because there is more than one operator that frequently renames itself to distance itself from the bad reviews people have written. 

I'd leave it as-is and let the buyer repair it, or have it repaired yourself if it's in the budget.

Since being on here I quickly realized how there is such a vast difference in the feeling in the air I get in Bigger Pockets compared to other groups (some groups in FB, in which I intend to leave the group due to not getting any real sense of value, but more like a bunch of vultures wanting to make easy money by preying on (ex: Joint Ventures) with the newbies).

My concern for you is that you will have to purchase this property as a personal loan not a commercial loan, and you already have credit issues and a high debt to income ratio, so you may be at high risk of not being able to get financing next year when you go to buy.