I had four calls today with investors who are accredited and are gun shy because each had over $100k invested in deals gone bad and trying to see what  (if anything) they are getting back.Some things to consider also:506c and 506b will cost around $10k to setup. 

(No, keep it as it is.)Get this amendment signed by all parties2.

If you've owned the duplex for longer than a year and it's on taxes, there's no restriction to the income that is calculated (as in it doesn't have to zero out; it can give you income on paper). 

This is not a blanket recommendation for everyone though, each situation can call for a different answer.

Specifically, anything indicating that the lease is completed and both sides have no claims or issues with each other.

Hi Carline,I know there are down payment assistance programs for properties 4 units or under but anything over that is considered commercial and to my knowledge there are no loan programs out there.I'm not sure if the down payment assistance programs are still active but I can find out if you'd like!

No updates, no receipts.

Balancing fatherhood, managing properties, and owning a restaurant is no small feat – kudos to you for juggling all those responsibilities so well.As a property management company, we appreciate the challenges and rewards of this industry.

Without appreciation, your entire return is cash flow, and buying at a 6 cap with little to no real upside, means you will be making 6% on the deal.  

The goal in the future is to get the permit and add the value for a future refinance.I have called the county and building department and they said that I will need blueprints of the alterations and submit them for approval and get all the inspections in place (I know this will be a headache and can be very costly).