Purchase price: $3,175,000 Cash invested: $1,915,000 National Road is an 84-unit complex developed in 1963 and includes a simple mix of 79 one-bedroom apartments and 5 two-bedroom apartments.

Purchase price: $3,175,000 Cash invested: $1,915,000 National Road is an 84-unit complex developed in 1963 and includes a simple mix of 79 one-bedroom apartments and 5 two-bedroom apartments.

CambridgeApartments is a 66-unit complex developed in 1967, and includes a mix of 52 one-bedroom apartments and14 two-bedroom apartments.

Or maybe use a mix of the sales/income approaches.

I just don't want the accounts to be mixed up if I used the same bank.

I have two well trained bulldog mixes, no other pets.

;]Like Nick stated, even if your cashflow zeroes out in the balance, don't forget about the other return on investment quadrants from appreciation, depreciation, & tax benefits (more on this below), as well as amortization (velocity banking/rapid debt reduction strategies).If you don't have one already, I would strongly recommend finding a CPA/tax attorney (whom also invests in real estate) to help create an entity for liability protection (different schools of thought on this -- find what works best for you).With the 4-plex, one potential strategy I see would be to rent out the units to your entity which, in turn, rents out to your tenants (regardless of whether you decide to rent long term, short term, or mixed).In any case, conduct your due diligence, *negotiate*, and congratulations on a big step you've taken already!

Like kind" is a bit more restrictive than the 1031 rules as I understand for rental property it is residential for residential and commercial for commercial and the two can not be mixed.   

My solution, my happy mix, is doing 75% LTV deals.

I have two mixed use properties here in Galveston that have airbnbs running as one component of them.