Hello all,I have a four plex(Minnesota) that was signed this weekend, and inspection next weekend. I am looking for advice regarding the loan strategy.4 units in total, 1 vacancy1. Take a 203k FHA loan, and the 5.5% i...

It’s in an improving area of town as well.

It’s in an improving area of town as well.

In our area they care I got caught between the new rules and it cost me a 19k fine plus the clean up of another 20k on a house that if I demo it a year before would have cost 10k or so total.. ..

I've put in offers on a few that didn't get accepted since being licensed, and before that put in an offer with owner financing as I didn't have the funds at the time, but I like the area and think it will improve as new development is getting closer and closer, sure to drive rents and values up on the older smaller homes.

As a general rule, don't ask Accountants legal questions and don't ask your lawyer tax questions.

@Joe EdmondsYou may want to review with your attorney and/or check the rules in your locality as it could be a code violation for a resident not to have access to the electrical panel.

The other is the seller having a smaller mortgage on the replacement property or properties.To begin with, for your original property, you have the original basis, consisting of the original price, land/building ratio, accumulated depreciation on the building and improvements.

@Camden Smith related party rules for transactions can be very tricky. 

Now I am not saying that EDDM, Cold Calling, or other methods aren't useful but there are ways to enhance those methods, reduce waste, and improve your ROI.