My plan is to buy a multifamily that needs minimal work and live in one of the units.

Some states and RE Commissions allow a minimal amount, like ten dollars to be on hand for the maintenance of the account, that makes life easier if allowed.What happens when you withdraw part of the funds, not the exact amount held, is that the remaing amounts immediately upon such transaction could be seen as income earned by the account holder, if so, you have just comingled earned income with your escrow account!

Many you would never even think of with minimal experience.

I'm discussing this option with the seller so I can do a pre-contract appraisal and hopefully minimize the uncertainty for everyone.

But it's not like I can pick and choose, because the renters around here are just awful.I always show my house when it's still occupied to minimize vacancy

Once you have substantial money typically hundreds of thousands or more in cash you do not want to place in such risky investments.If you do it is a small part of your overall portfolio it minimize risk.

This includes who makes the final decision on the applicant's status as well as the minimal acceptable rental criteria for a property and what is disclosed to the owner.

So now my investments have to perform with minimal involvement on my part. if the investment does not meet that criteria I pass because my time is very important to me.

We have the cash reserves we wanted to build, and now want to start maximizing profit on the individual deals by cutting holding costs, getting higher offers, and minimizing taxes.We have decided that selling with either a lease option or seller finance will be our best option.What do you see as the biggest reasons to do one vs. the other.So far my thoughts are that they are about equal with a little more risk in owner financing, but owner financing will also allow a refi for the buyer and build their credit quicker because we use a servicing company for the mortgage payments.Our target market will be first time buyers that just need to build some positive credit or correct a few things, or people that had issues (foreclosure, BK, SS, etc) in the past and are just waiting the required time period to take out a mortgage.If you had a house and all things were the same, it was guaranteed to close in 18 months, what would you use to sell it to maximize profit?

For example two that I am looking at are under 70K each, need minimal upgrading (paint, carpet, cleaning) to get it ready to rent and they are in good areas.