This in itself is an understated benefit because its a real pain having to explain to a lender, prospective employer etc. why your name is in the docket. 

I do not believe converting to condos would decontrol the building.I own a 4-unit multifamily in Union City and am considering condo converting it at some point in the future, though I do not think rent decontrol would be among the potential benefits of the conversion.

I'm sure many people on here have spoken about this, but I just wanted to bring this discussion back as it is a part of my job that I enjoy and see benefit to others from it.

I'm not 100% committed either way between the income benefits of multifamily vs. the reduced headaches of SFH tenants.

Your mentor has needs; try to meet them and develop a mutually beneficial relationship.A mentor can benefit your growth, but it's not as simple as one post on a forum full of strangers.

I could certainly see the benefit of using them as a correspondent to take you out of deals..

You can encourage them to apply for unemployment benefits if they haven't already.

A lot of my clients buying in FL are happy with minimal return but are buying for second homes, tax benefits, etc.I would stick with value add - with refi you can still achieve high CoC and a good equity position. 

Structuring your lease in this way would benefit you by 1) locking in a longer term contract to avoid turnover costs and vacancy loss; 2) it moves your lease end date out of the winter season and into spring/summer of 2026 so it can be more easily marketed and re-rented to match the seasonal demand cycle; and 3) it avoids any upset/angry tenants who may have been incorrectly assuming their rent was going to stay in the $1,200 range after their first 6-month lease term.Would love to hear any updates you have on how this one shakes out for you though!

Curious some data points / arguments / etc. other BP users have used in the past to argue how and why a project would benefit the community.