For single family I would look in Bergen County zoned for good schools, something that needs work and you can force appreciation through reno or addition.

In the event of a slight downturn it would be safe to build additional vacancy losses or rent reductions into your pro-forma so that your property still cash flows well. 2.

From what I've learned when you cash-out your equity like this, you are going to pay an additional 1% over the normal rates.

I'm trying to get one of these Finance right now and it seems like the lenders are asking for an additional 10% down because it's multifamily is that your experience as well

Also, note that that is in addition to the $450-$550 per unit in repair and maintenance each year. 

Additionally, the property itself won't put stress on you as long as it is continually producing positive cash flow.  

Otherwise what was the point of the exercise. good luck.. consider posting the new calculations based on 650-700/ per unit to be conservative...

It was fixed and just closed on 6/14/18 for $759,000.Breakdown/Deal Numbers:Acquisition Costs (AC): $525,000- Purchase Price: $510,000- Closing Costs: $15,000 (hard money points and fees based on $408,000 loan amount)Rehab Costs (RC): $80,000Monthly Mortgage costs: ($2890 per month for 6 months = $17,340)- Utilities: $600Selling Costs:  2.5% (as a Broker I listed the home myself and saved the other 2.5%) Sales Price (SP)  $759,000 closed 6/14/18- Commissions to Selling Agent: $18,975-Selling costs (property taxes, title, escrow, etc) $8,000Total Net Profit: $109,085 – Taxes & Any Additional Selling Costs- $759,000(SP) - $26,975(SC) - $17,940(HC) - $80,000(RC) - $525,000(AC) = $109,085Before:After:Thank you for reading.

If the property with the squatter was a good deal why not buy it as-is with squatter (and an additional discount 🙂) and then get him out?

This lot will support 2,800 buildable square feet so we are looking a building a main house then an ADU (Additional Dwelling Unit).