One is the type that manages their finances poorly, live pay check to pay check, and will lie to you about coming in to pay and try to string you along as long as possible with no intention of every paying.

On January 24th. of this year I received a general information brief in my mail box concerning the new owners intent to refurbish all the apartments here.

I do not, at all, want to imply bad intentions.

I’ve attended a RENC meeting tonight but I’m not sure what the real intent is... maybe they’re just trying to “sell me on something”??

Otherwise some people transfer the property to their own name to refinance with the intention of transferring the property back into the LLC, but this runs the risk of getting hit by the Due on Sale Clause.The smoothest strategy I have seen for refinancing while maintaining protection is when investors introduce a Land Trust as a "middle-man."

@Ashley SivilsFHA will allow you to use 75% of rental income from other units if you are purchasing a multi-family, if your intention is to live in the property. 

This way there is no way your intentions or thoughts get mixed up in a game of telephone.

So the area is desirable and on its way up.I am about to send him my letter of intent but I need to reach out to my commercial contacts.

My intentions were to hold on to the property However you brought some clarity .

Purchase them with the intent of holding for investment.