Realize you are in the people business, not the real estate business.

To me it looks really solid but the only thing that matters is your business plan and how you set up your goals that will determine if it is a good deal for you. 

I'm not planning on ever selling but yes, I would disclose this in the future.

If it works well enough doing that, then you can buy it, Airbnb it and rest assured that if Big Brother cracks down, you've got a viable Plan B.Also, I'd definitely contact zoning/planning in your area.

The fact of the matter is that banks do not want to be in the property management business. 

I talked to an architect today, he said he can take original plans and transfer it onto a permit plan sheet.

Hence, I plan on transitioning to Commercial Real Estate as soon as I have enough knowledge on this field. 

Hi all,I'm stuck and I don't know where to start or how to strategize a game plan on how to build my portfolio.

@Aaron DavisI'm sure you know your business better than we do, but the question is why is there only 3 of the 8 units currently occupied? 

My business partner and I already set up an LLC and we are looking to start acquiring RE with two other individuals through a joint venture type setup.