with an 1880s wood building (age of many 2 flat buildings) it’s not if you have rotted wood but where. for me it was a constant battle caulking/replacing windows spraying insulation to keep cold air out and conducting yearly termite inspections. you might still have some of these issues with brick buildings but you have more time (fix it this year as a opposed to right now) @Mark Ainley curious if you have any other anecdotal reasons why brick is better than wood- i know i’ve heard this come up on the podcast numerous times

Throughout this journey I hope to meet a mentor(s) who can help me with my vision to own numerous multifamily rentals to create cash flow, financial freedom, and creating a legacy for my family.

Of all the numerous reservations I have every year there, only two or three are through Airbnb.

Courts are extremely friendly to tenants, give them numerous extensions, and bend over backwards to help them, so it's not uncommon to hear stories of tenants living for 6-12 months in an apartment without paying rent.  

That is a legal matter, but still has "accounting" elements in it since something such as co-mingling funds will pierce your corporate veil. 

If this were in Hawaii, the nails would be long gone from the elements.

The operating agrement is truthfully the most important element.

Numerous lawsuits resulted with charges of fraud3.

Studies have shown that we are slow to increase rents, often due to the personal element in our business.

However, multifamily properties may offer more considerable long-term rewards if you're ready to take on the challenges of maintaining numerous units and are interested in gradually creating a larger revenue stream.The optimal decision ultimately comes down to your own investment objectives, risk tolerance, managerial skills, and the particular market dynamics of the regions you're thinking about.