Some people are more risk averse than others so as you thought my answer is it depends. the seller is firm on his price have you asked if he would be willing to try and hand over the property vacant?

I was rather young for the 2008 crash so I don’t have the hands on experience in a down market.

Plus I can bring the city down on them when they get out of hand.

If you’re planning on moving at that time, I highly suggest to start looking around 1-2 months before hand and give  your landlord written notice that you are not going to renew the lease.   

On the other hand, if they are only 15 years old you may spread that cost over the next 5 years.Turnover costs really depend on the tenant quality and the length of time they stay.

It allows you to get great financing and be hands on rehabbing and managing until you can do it again.Fourplexes have the advantage of more leverage and smaller impacts on cash flow during vacancies.Start with talking to a lender. 

The bigger the project, the more room for things to get ugly, and you dont want to be stuck with a mess on your hands from biting off more than you can chew!

**Edit: It is also relevant to note that the true end goal of this type of setup to to get my private money investors (who know nothing of REI) to get more comfortable with my process and success, as well as, increase their cash-in-hand to reinvest in me down the road on much bigger deals.

You create a note, a deed of trust, and a handful of other documents that protect you as a secured lender.

On the other hand, if you have a considerable claim in the first couple of years, you might have to cough up a good amount of cash with ACV to repair the damage.We recently paid a claim on a 65 year old home that had a small kitchen fire.