We feel like it's a scare tactic but apparently main owner is a harsh 78 year old and it's literally his last house ever.

The state health department had to sign off on everything.

Not trying to scare you away from it just letting you know. 

These questions aren't meant to scare you, just to give you some talking points for the attorney you choose who would draft the operating agreement.Otherwise, generally speaking, there are fewer 4-units out there than 3-units, but you'll probably get a slightly better deal on a per-unit basis, so I think it's great that you've narrowed your focus so much!

With vacancies downtown below 6% and pre-leasing of new construction over 70%, the health of the Austin central business district is very strong""...According to CBRE’s analysis.

I apologize for the long post in advance :)Anyways, it's been awhile since I've visited BP but over the past couple of years I've been looking into buying rental properties for passive income (but too "scared" to pull the trigger).

@James WiseWould you say Metro Health area is C class?

Bringing new/fresh tech/biotech/health companies to the area. 

I have been learning REI for the last couple of years and am now ready to get into the game.I am looking at using 65% of the equity in a $300K+ lakefront vacation home that I 50/50 co-own with a health compromised relative for a few different purposes. 1) Reset all higher interest outstanding debt. 2) Have a ready fund source should health concerns require significant funds. 3) Use as a reusable source of REI funds for down payments to acquire cash flow properties.What are the things I should watch out for as well as make sure I take advantage of in using this approach?

But there are endless curveballs that will allow a tenant to squat a long time I have had a few take about 3 weeks but I have ha a few that drug out 3 months..I always send late rent notice and by the 5th they get the certificied letter 3day to leave.. that won’t ever do it though so if that doesn’t scare them into paying then it’s off to the court house to file, then off to sheriffs office to setup eviction date as long as all judges pass and tenant or state appointed lawyer does not fight it.