So I work with a lot of clients analyzing properties.A trend I am seeing is a critical mistake made by buyers of value add multifamily.The larger number of unit buyers 50,100 units or larger do not typically make this mistake.

That's why, Kirsten, should you decide you want to do this, it is critical to find the right attorney so they can make sure to instruct you properly, so that all the loans you do are not subject to Safe Act and Dodd Frank, are business purpose loans, and don't run afowl of any state nuances.For example, in NH, if you own a gas station free and clear, (clearly a commercial property) and take out a loan against the property and use the proceeds to pay your kid's tuition, it is a household purpose loan, and is therefore residential.

The day notice must be given is critical as well and may vary depending on the circumstances.

Just like they say you make money when you buy, the #1 time to be the most critical is when you're placing someone in your property. 

For this reason, (1) understanding all of the risks involved and developing creative ways to manage them and (2) developing methodologies to micromanage expenses are critical. 

I'm taking your advice critically so thanks!

Putting a team together that are professional and that you can count on is critical.

I by no means have any desire to not work as I will till the day I die however I would like to get to a point where I can do it on my terms and leave my kids a business should they want it.So lets get ready to roll and I am extremely happy and proud to be part of this community- I am a sponge and will take all advice, mentoring, consturective criticism, whatever to achieve my goals- thank you for allowing me to be a part of it and I look forward to connecting with all of you!!!!

I am hoping for a LOT of constructive criticism from my new, super smart BP friends to make my journey to success as painless as possible.

But again, I believe building a greta relationship is critical for both of you being fair with each other.