If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).

I am considering going this route.

If you're not sure if you want to keep it or sell it, you can live in it for 2 years in order to set yourself up for the exclusion and then you can test the rental route and if you decide you still want to sell, just make sure you sell within 3 years after your initial 2 years of living in it (to stay within the 5 year window) and you can still take the exclusion on the gain. 

Hi BP community -I am looking to purchase a multifamily property in Philly and going the 203k route looks like the best option.

This seller was definitely not going to go the route of listing their property, so the sellers' market didn't have much of an impact.Some will call me a cheerleader, but the fact is that if you go for it and stick to it, you will make it happen. 

Obviously sounds like allowing the contractors to provide the materials, if the price difference isn't much is a better route to go

Brie Schmidt has a good site if you are considering that route.   

I would probably not go the condo route, the only reason being is I think you'll have a harder time renting it and getting your money out of it.

If you plan to use the property at least a few time a year to vacation their then go that route.

That said, I've never gone the commercial route for a property 4 units and under.