We can obviously give 90 day notice to renters in one of the units since we will be owner occupying but we would end up paying more of the mortgage than our renters because their rent is so low.

That is what is so valuable about the BP Forums - lots of good honest feedback from people in the know, and various view points to make a person think from all angles.

@Jon  This is so good Jon!

Because the market was (and still is) so hot in Denver, we had a lot of equity in the condo after a year and pulled it with HELOC.

But that is so funny!

It is so little money for them, not worth the trouble and management headaches that come with in this area.Economically also not the best ratios: tiny 2 BR homes brings in less rent, however you have basically the same operating and capital expenses. 

It is so much more efficient and simple.  

kyle J thank you for your prompt & knowledgeable response- epitome of why this site is so valued.

Where this is the case, their JV partners’ ownership interest in their JV entity is not a “security” and, therefore, not subject to the securities laws or under the jurisdiction of the Securities and Exchange Commission.If you successfully structure your group investment as a joint venture, it is so much less expensive (in terms of legal fees), so much easier (because you don’t have to worry about inadvertently violating the securities laws), so much faster (because you don’t have to spend so much time with your lawyer preparing volumes of paperwork that would otherwise be required if you are syndicating)" 

So, from my limited scope of experience here are my take-aways:Vinyl IS 100% waterproof because it is 100% plastic (actually, it's probably not technically 100% plastic, but in essence that is what it is).  So