Build a Strong Team:Surround yourself with a reliable team, including a real estate agent, contractor, property manager, and accountant.

I have decent reserves, but it wouldn't hurt to build them up a little more before considering paying down the mortgage. 

So far we have painted the common areas and the exterior of the building.

They live on the first floor of a small ten-unit building. 

I had a GC build it turn key and it went under contract before it was completed.

Therefore trying to get a bit creative with the financing.Positive cash flow will almost be impossible (as I'll have to probably take one bed away, and then build a bath and a kitchen) in what I've been finding, so Im trying to offset the mortgage as much as possible.Long term, ideally I get to keep it and the 2nd unit adds to the cash flow if I ever dont need it anymore. 

When speaking to the owner (building rapport), your main goal is to figure out which of these main 3 is most important to them.

Depending on your income You get to take depreciation off your regular income (usually up to $25k) of 3.6% per year of the building’s value.Many of your everyday expense can be deducted from your income as business expenses. 

We have a pretty significant portfolio and are building more this year. 

My question is, can I use one of the separate parcels as collateral for a construction loan to build a multifamily on it (of course adhering to zoning regulations)?