We put together a package deal with assignment clauses for $151,500 (including buyer commissions).

We put together a package deal with assignment clauses for $151,500 (including buyer commissions).

Has anyone encountered this situation before and any best practices I should follow?

Year built will be much better (less maintenance ) Operation will be efficient because of the proximity within one mile radius (there is also no traffic in killeen) Terms are 30 amortized in fourplexes vs commercial - usually 15 -20 yrs amortized on older apt buildingsInterest rate is lower in residential - 1-4 units because its Fannie mae (a government sponsored entity vs a bank for commercial properties usually ) No balloon in conventional financing for fourplexes vs commercial properties (usually in five years a balloon - much much more riskier then what people estimate)Price per unit for fourplexes is better per year built (less debt payment meaning more cash flow)You have an ability to sell it to commercial investor in the future as a portfolio package with commercial loan but also an option to sell it one fourplex at a time for smaller investors.

My (developing) goals are based in creating wealth and financial independence for myself and my future family through multi-family rental properties and any other strategies I encounter that my skill set align with, in the New England area.

(seem very pricey) Do you know if they offer a package for background /credit for one price? 

In this one building, there are 7 condos being sold for this estate as package deal for about 425K of I remember right.

Although you want to know contractors, the LTB proceedings, be familiar with the residential tendencies act, and the standard lease agreement, and have some paralegals ready on call.Then get familiar with your market, what rental supply exists, how much different units rent for, and what tenants value in your market.Find a property management company that can offer you a good compensation package for leasing units and bringing Landlords on board.

These are useful for low-use various building supplies that can be affected by moisture, stuff like drywall tape (especially the composite tapes), fasteners (that weren't sold in the big buckets), various hardware (still in clamshell packaging wherever possible), any sort of rubber or vinyl hose, etc.Larger supplies (rolls of tubing and electrical wire) go in garbage bags.Sheet good like OSB, plywood, cement board, and drywall are a real pain.

I also came to find that I could get a bulk deal of premium cable and internet for $38/door.So after running some numbers, I notified the tenants that we'd be consolidating the Cable and Internet under ownership and providing the better bundled package for $45/mo - saving my most frugal tenants $10/mo and my more frivolous tenants up to $80/mo.