Do NOT be bullied by tenants.

Hey @Alex Short, it’s definitely do-able to cash flow on a multi-family unit.

Note, I am looking to do this as non-owner occupied...

In an effort to make sure they do hold up the referral fee would you have them sign a referral agreement?  

If I could do this all over again, I would probably go for a smaller house.

That would leave you with $230k to do the renovation, and cut down your negative carry by 2/3. 

My wife and I have been doing an MTR-exclusive startegy for 3.5 years, and we still have a hard time figuring out how to predict vacancy, especially in a new market that we're considering.If we look at FF's (pretty crummy) data on their website we either see very few listings, so we think "no one is investing here; bad" or we see a lot of listings and think "too much competition; bad". 

So the question is… Do you provide mini blinds in your class C rentals?

The rental income would offset the PITI of the new property to $0 (assuming the rental income was high enough to do this). 

@Jin ParkJin, how is your STR in BR doing?