In the event you keep it as a rental, what is his opportunity cost for keeping his equity in your deal for however long you decide to hold it? 

Require 30 day notice of cancellation of any policyA well written hold harmless clause in the contract can also help you avoid liability.  

Appreciate it Bruce, I'm mostly interested in cash flow and appreciation, buy n hold for now.

I look to double or triple my holdings in either location.

Investment Info:Small multi-family (2-4 units) buy & hold investment in Buffalo.

Bird in the hand 

Assuming you paid exactly what it was worth the first time around, someone would have to overpay to take it off your hands and make you whole.

As part of the search process, we work hand in hand providing revenue and occupancy projections for any properties that catch your eye, so you’ll be able to make an informed decision.

If you want to buy an hold a 3 bedroom, 2 bath and your budget is $200,000 then you know to completely stay away from certain markets.Then start researching general markets/regions/cities. 

In all our years doing this work, we've only seen it successfully completed a handful of times because of how many hurdles you have to jump over and through.