I used to have 15+ units here, have been selling them off and going into a different niche.

If this is a commercial property then that is a different story.

Hey Tramon, I'm not a truck driver, but i've worked with investors from all different industries.

Hi Heather, Your lending options can vary greatly depending on what type of property you are looking at. 1-4 units, 5-10, and beyond will have different types of lenders and more importantly different loan options. 1-4 you will have the options of FHA/local banks/conventional.

Planning ahead can be challenging when two nearly identical loans get UW and conditioned in very different ways at the same lender.  

Very very different tenants, costs to operate and jurisdictional issues. 

Lenders have a million different takes on this type of loan, so I’d take everything with a grain of salt until you’re able to talk to one :) hope this helps! 

Now, for my learning if you please, does it make a difference that i "materially participate" in the business?

We are seriously considering this to decrease inheritance tax as shares in a property are considered differently in RI for inheritance.

My daughter is a scientist, my dad was a fireman - they are very different professions and very different people.