Originally posted by @Eric Mayer: Not sure how much Marijuana you have been around, but some smells terrible and all of that can happen without smoking it inside.

Thanks @Don Konipol, but I can’t take all the credit here.

.* Receipts and Expenses: Once I brought to Jenny's attention that we were 20k above budget, she refused for days to give me the receipts, saying that I needed to give her my credit card statement first.

My W2 income is very high (+$500k), excellent credit, but I hate my job and I want to leave within a year or two. 

Given your financial constraints and the property's ineligibility for historic tax credits, this approach allows for reinvestment into assets more aligned with retirement account rules.For future real estate investments, you don't need an LLC for tax reasons.

If you’re looking at retrofitting to separate heating for each unit (like furnaces or mini-splits), you might be looking at a higher upfront cost, but it can shift utility expenses to tenants and improve your NOI.I’d factor in boiler age and efficiency when analyzing deals and if it’s near the end of its life, negotiate a price reduction or a credit.

On top of that there was an $8,000 tax credit, as an incentive since people weren’t buying.  

@Vinny Muli - it is VERY hard but not impossible to get an equity line of credit on a non owner occupied property. 

Several options you can explore to get the down payment capital: Solo401k; HELOC on personal residence or from equity of the SFR; Cash Value Life Insurance Policy; Business Credit; Private Lenders, to name a few.

So the seller cannot go get another loan for a car, house, apartment, etc. so it damages their credit by stretching them too thin.Am I missing something?