That part is not the problem, the problem is, once we move to Washington, we won’t have jobs immediately making it very difficult to obtain an FHA loan for our first house (triplex).

And there-in is the challenge as a seller: the market for this kind of property is small, and most buyers either can't wrap their head around the investment or don't want the hassle of students.Summary:- Awesome cash flow- Valuation based on cash flow- Management hassle- Difficult to unload

How much should I figure in for cap x and repairs is a big one for me.

How hard or difficult is it to get a property zoned as a multi-unit property?

I am having problems with a seller, he’s been very difficult to deal with.

You will lose money on this (hopefully you have the minimal resources for it not to bankrupt you) and for the rest of your life you'll tell anyone who listens that real estate is just a bad, bad, bad investment strategy.You jumped into a very tight, very difficult, very high-risk niche specialty without studying it carefully, without having worked with a more experienced investor, without a network and a team in place, without giving yourself a real chance to go through the learning curve.

Given everyone's experience with this market so far, how easy or difficult has it been to find and keep tenants?

@Ashton Patel Keep in mind getting this financed will be difficult.

@Matthew Wright Yeah, there is no “exemption” on cap gains, other than a 121 on a personal resid nice.As for the 1031, if you want to reinvest anyway, it makes sense.  

Cap Rate 9.6%Cash on Cash 17.74%GRM 5.59 How did you find this deal and how did you negotiate it?