On the other hand, acquiring more properties can lead to faster portfolio growth, diversification, and potential tax benefits.

$ for HOA Fees (if applicable)I’d recommend starting with something closer to you for your first deal. 

- 3 units are occupied by seller’s close family - All units are on month to month basis- All units are significantly under market rent- 1 unit pays on the 15th of the month- 1 unit has not yet paid for Match 1st even though my information has been provided to them twice- I have no applications or old leases1.

Potential returns look decent …PS- the jump you saw could be some sort of hotel/ multi unit property coming online.

Keep in mind in this case, you are not dealing with insurance carrires and any monetary judgment, if applicable will be difficult to collect on (particularly in this space as I am sure you are dealing with unsophisticated and poorly capitalized parties).

Send 1,000 mailers: 2% engage = 20.   40% turn into leads = 8.   75% set appointments = 6.   85% "sit" = 5.   60% are viable potentials and submit offer = 3.    

No I'm saying for the attorney writing the opinion letter there is the same work and potential liability. 

Given potential tax law changes, consulting a professional is crucial.

The thing is to sell conventionally - potential buyers understandably would complain about the Ticky-Tacky stuff.  

@Dillon Vansickle, first I would go to the listing broker and others, potentially from surrounding markets, to give you an idea.Second, most sellers are crazy today in their valuations.