Like I said, I own one property so this would be my first ever cash out refinance (I realize that financing like this is not easy to get these days - but I will look into that after I make a decision to go forward or not), so was hoping I could get some more experienced insight.

Paul I would check with a 1031 exchange company.Yes there are people that do these owning the property less than a year.The expectation though is you open yourself up to the IRS trying to challenge you or disallow the 1031 later on.This is why I say it would be best to talk with a 1031 exchange company about your specific situation.Then you can make an informed decision going in.

Most of these appear to have been very poorly executed.The available space after creating proper wall heights yields about an 800 SF studio unit.

But only the business owner can come to a decision if you ask him.Problem can be a mortgage or so on or for the propertie so bank want an other buying process.

Administrator, and so on.Prior to making any decisions, it's best to first assess all the options.

But still I agree, I need to do go visit the city and look at the neighborhood before making a decision.

I wonder if these guys are justifying to themselves their poor management skills with these comments.

Also, don’t forget, as a licensee, you are deep pockets even if you are poor, because judgments against licensee’s will be paid out of the DRE’s real estate recovery fund.

I am embarrased when I go to the Tower Club (a private resturant club) and (where I usually keep my mouth shut) and some pompass a$$ is sitting there talking about all the $hitheads (the code word for the poor and working poor) who are doing or not doing something and some waiter is standing there with a pitcher of water.

Buy with a sub2, then lease option it to a retail buyer with poor credit.