If you can’t, then try to go 5-story and get more density of units. 4-story usually incurs all of the additional cost for commercial code without the additional income from higher density.

If you'd like any additional information please let me know.  

You’ll receive notifications when there is conversation in the forums you follow or if a user mentions those keywords—so keep them updated often!

Moreover, continue your practice in analyzing deals (ARV, rehab estimate, assignment fee, etc.). 95% of wholesale deals I receive are trash. 

I received a windfall during 2020 and decided to purchase this property and make it my pandemic project.

I would advise your nephew to also carry good insurance for his car (liability), in addition to an umbrella policy.

Someone retired or a younger person receiving social security and leads a quiet, sober life?

Additionally, even though the individual risk is low, if you happen to have a title claim, it's not something you want to deal with on your own.

Yesterday I received my first statement for November with my new PM and it was 250% better.

I've been deliberating over the same issue (long-term rentals vs. medium-term rentals) and am inclined to invest the extra effort to manage a medium-term rental, given the appealing additional cash flow it promises.