Considering that you could probably purchase $800k-$1MM property with the equity you have, it's important to get clear on what you want to achieve.Out-of-state multi-family is probably the best bet for maximizing returns and minimizing costs.

Different banks have different processes - but this saves a bundle. 

Meaning, can/are you able to fully finance yourself with the funds from REI (able to pay your own medical bills out of pocket, savings built up enough so you don't need 401K, etc.)I just don't know what to expect and It would be amazing to get some insight on it so that I know what to prepare for.Thanks BP!

You can save money by mutually agreeing with the tenant to end the tenancy and their voluntarily moving out.

My group is currently looking for value add opportunities to maximize returns and preserve capital for further expansion. 

We are saving cash to have money for a 20-25%down payment as well as to have enough in reserves for anything that comes up. 

Learning all of that ahead of time will save you a bazillion headaches and potential financial strain later!

He wants his security deposit back so he can pay it to the next landlord to get a place to move, if it's low income, you gotta realize most don't have savings and he wasn't planning on moving when you bought it.     

Instead, save the cost of doing this work, rely on the 1 furnace in place, pay for the tenants' heat and try to recoup the costs through higher rents (heat included) or try to bill it back to tenants somehow (e.g.

Hi Natalie,You'll definitely maximize value if you can get the permits approved on your own.