We are very good at saving so can prob build it back up fast.

Cash out Refi property located in Northern NJ, and hypothetical purchase mixed use or multi family apartment building located in Brooklyn most likely

Hello,My name is LeoOne of my investor friend has an issue with his rental property (2 story townhome with HOA)What was happened to him and the unit is1) the drain pipe on 2nd floor bathroom was broken2) water leaked in the 1st floor ceiling and walls3) in contractors opinion, this problem was caused by just normal wear and tear (already 40 year building)4) Those pipes are not shared wish other units (service the unit only) and HOA won't do anything or take care of it. 5) it will take 1-2 months for everything to be fixed up6) Tenant will need to evacuate to a hotel or shelter I have two questions,#1 In this case, whose insurance should cover the fee of tenant's hotel while the damages are fixed up? 

I'm also building an ADU here at our primary that we'll operate as a STR. 

Lots of older buildings with good bones.

From all accounts, he's building a great GC Business. 

I posted a few deal diaries on Reddit and got 3 client leads all were complete junk, one I swear I heard his mom yelling at him in the background during our call, another was talking about building a huge portfolio of rental properties when had $0 in savings.

I now own several small multi family buildings there.

My current main focus is to build out my network, put together a team, and eventually close on a deal for my first multi-family property within the next year.

The architect and I have been thinking the exact same thing, with all the people looking to build/ live in this area we could sell just about anything under 500k instantly.