What I found was, yes it was nice have additional income, but each project seemed to always interfere.

After selling one and using a 1031 exchange to buy a fourplex in Chicago, he reduced his interest burden by 20% while boosting his net incomes by $1,500 per month.

Hopefully they have enough income without the rent to qualify.  

@Kin LayThere could be gift tax, income tax, and property tax implications to a proposed transfer. 

Disclosure: Previous, current and future purchaser of Matt Scott's services.I have personally used Matt Scott and Incite Venture Capital to create my fixed income fund.

Damon That's the rub with low income tenants.

I have referred a loan out of state based on NOI, cap rate at purchase, room for increase income and purchase price vs market value.Maybe I didn’t articulate the intent of the post as clearly as I hopedFor anyone who has bought multi family out of state, “what are gives you the warm and fuzzies about a deal”:Obviously not cap rate, but maybe vacancy rate,  Cash on Cash ,GRM, IRR, Unlevered free cash flow, Cities over 250k?

If you did, you could take advantage of some unique strategies, like renting it out while traveling (as long as it’s for 14 days or less) and having that rental income be completely non-taxable.

In 2024, my occupancy rate was 90.2%.Am I missing out on income?

My bank account is connected to Stessa to eliminate the need for me to manually track income, expenses etc.