Redeveloping into mixed use live/work/play projects has been the most common proposed solution the past few years in my area. 

A 4-plex would be ideal and you could play around with doing 1 long-term, 1 mid-term, and 1 short-term, plus you, if it works on your area to upgrade your income.

Many companies have left the state entirely.Insurance is a simple math game. 

Not a single one of the properties I was under contract for made any sense once the massive price increases were put in play.

There is really no reason to roll the dice in a craps game.

As you discover opportunities, continue looking for the longer play!

When you go to sell, Montvale requires a certificate of occupancy so this issue has to be resolved in advance of a sale.Although I am not a lender, I assume you will not be approved for an owner-occupied mortgage on 5-units if it is a legal 4-unit without some type of mortgage fraud whether in reported rents, units, or another legal document or representation (very very large issue from a legal perspective with multiple arrests in the last year for anyone playing fast and loose).As far as the DCA, I would recommend coordinating your work with the city with the DCA.

@Brian Burke Your more of an honest man, than a salesman.It’s great that (IMO) the most trusted Syndicator/Operator on here is saying to diversify across other assets.Brian you are in it for the long game and that is why people trust you.

I would only consider Decatur for a cash flow play, not an appreciation play.  

GP is more important in many instances than the property and that is playing out big time right now.