@Michael ThompsonTo ever be able get to $10k a month of passive income, you need to have a lot more properties than the 3 that you currently own.To ever achieve that ambition, given the 2 options you mentioned, you are only left with using the equity you have to purchase more houses.

My original thought was to keep it as a condo for now because that left us with the option of selling just one of the units if we ever decided we wanted to, but then if we decided we wanted to mortgage it or sell the whole thing, we would convert it to multi-family.  

I am in Ambler if you ever want to get together.

The properties that cash flow the best are D properties which will rarely if ever appreciate.

It's like when Brandon Turner says on podcasts that he knows to buy on this side of the street but not that side of the street.....that knowledge comes from physically being in your playground.The thought of just picking a spot on the map and saying, "Yep, I'm going to invest here because the numbers say I should" without ever living there myself scares me. 

No one has ever completed one, but I have had some long term tenants for years, and only about a handful of evictions over all the properties.

I know mailers work well for single family but do you all know anyone that has ever tried to crack the multi family owners world with mailers?

If you ever need a good local realtor who knows the ins & outs of every area, the realtor I use is great & he has a lot of knowledge & experience  with flips.

@Claire Hudgens  This is another example of why I hate HOAs.Here is how this should work...1)  The HOA should decide how often the property will need to be painted.2)  The HOA should figure how much it will cost.3)  The price should be divided by how many assessments will happen between paintings.That is basically the amount they should be charging ever assessment for painting.If they cannot do that I would suggest one of two options. 

Hey All!  Big shout out to all of BiggerPockets for being AWESOME!So I'm working on my first  every deal here in Northfield, Minnesota, and have analyzed this thing to death.  So instead of running the numbers for the...