It can remain a standard multi family, but you would need to check with the city.

Once I have located such a property, I buy their property for below market, (instant equity) no bank qualifying, no credit checks, by offering to take over their loan and make their payments for them.

Also, thank you for that comprehensive check list.

Do a complete application and background check on new guy. 

You are showing up with a check to refinance the loan. 

I’ve always used my smart move for background checks.  

Not everyone remembers to check this and understand there may be thousands owed.6.

Check out the area and see what they are going for.  

Maintenance is not a big deal but they have to be checked daily for mice, voles, and moles.

Check out this recent article posted discussing the mid term rental investing strategy!