If I were to pony up the $10k, that would throw a wrench in my rehab and will end up costing me even more money since I won't be able to hire out for other repairs.No one at closing caught the error, including the realtor who also received an extra $600 broker's fee for "reviewing the documents" with me.

Brian it just depends on the tenants.I do small increases but not too large.If the tenant has lived their awhile I have to weigh going up 20 bucks a month for 240 extra a year versus them moving,losing a months worth of rent (840) and then putting about 1,000 or more in new carpet paint and repairs.So at 240 extra a year it would take me about 9 years to recoup that money on the unit.It also depends on if you plan holding it that long or not.In my area tenants are barely getting by and lay-offs are happening every month to some.I think right now at least for my area isn't the time to push rent increases strong.I know what you are saying about landlords not increasing the rent for years and years.Some just want full and not deal with the headache anymore.They would rather have full and paying than charge higher rates and have more turnover and struggling from the tenants and more accounting to keep up with at multiple payments per month to pay the total rent.I believe as long as you are close to market rent but under by just a little you are not losing that much.It also depends on how cheap you bought the property.Some buy really cheap and cash flow like a monster because they purchased so low even though below market rents.

For that reason I will charge extra rent each month to cover these costs and I will pay them directly myself.

It takes less than 5 minutes extra.

Rehab about $20K (plus an extra $130 for the speeding ticket I got driving to the house the first time) with an ARV of about $140K.2.

Brad, can you name a couple of solo 401k custodians that permit borrowing?

Here are my options:1)Renovate it with the rest of the house and leave it as a second apartment.2)Add a doorway to the main house, remove the kitchen, and remove the extra power meter.

Because I recently bought my first multifamily about a year ago, my debt-to-income ratio is still high to obtain a another mortgage loan, the equity in the property is not there yet, and I still don't have two years worth of rental income to use towards extra income.

More bedrooms, more baths and extra space will make more difference than nicer finishes.Any feedback from the people who have seen it?

In fact, I’m glad we had him, because him being from Georgia, he felt compelled to give us some extra tidbits.