@Cameron Lim I have experienced the first transition as I have more than 4 properties.

Hi Makenna - There are certainly opportunities here in Jacksonville to invest in a primary residence (single or multi-family) that would transition well into a successful cash-flowing (and appreciating) rental property. 

I hope you have a smooth transition to Halifax.

Purchase price: $505,000 Cash invested: $100,000 Sale price: $700,000This is a almost 100 year old property that is zoned in a transitional district.

The property in question is currently on NNN leases, the thought came up today to transition everything over to Gross leases.I personally think that the leases should be left alone as NNN.  

When I transitioned from Single-family to Multifamily investing 10+ years ago, I was initially looking to purchase a 50-60 unit complex by myself but quickly realized that you need around 100 units to make the numbers really work and have dedicated staff, otherwise the property will not run as efficiently and will require more attention and your time.

The seller should understand early in the conversation that he/she pays nothing for your service in bringing them a reliable cash buyer and enabling them to make a smooth, predictable, hassle-free transition out of ownership of the property--unlike they would get in the retail market.

During this transition I want to revise the way I collect rent.

If the repairs are strictly cosmetic and less than $30k you can do a 203K streamline loan, spend the money on things like kitchens and baths and focus on transitional design that will stand the test of time.

My intention is to transition from contracting to investing.