Then using the remaining money to buy a nicer, single family home for my family.Then...hopefully two years later, use the cashflow from the triplex or quad to purchase another multifamily house.

All the remaining first floor lines have been stubbed in with pex and are ready to go online shortly.

It's not a good assumption to think that an OK neighborhood will remain that way over the long term.

The "operator" and managers are very visible.Some people may want their ownership interest to remain out of public view.

You would have the right to hold back money, pay others to do the remaining work, and if it costs more than what he had in for it.....deduct that from his balance.

By law they would actually be required to turn the remaining security deposit over to the county, so that it can be held as unclaimed fund and potentially claimed by the former tenant.That's only if there's money owed to the tenant.

You have flexibility in the interest rate, terms, etc. to get to your goal.

The tenant will also provide the landlord/manager/maintenance man the alarm code for the security alarm.If the tenant does not activate the security alarm, the tenant understands that the security alarm and all of its components are to remain in the unit and not to be tampered with or removed from the walls/ceiling/etc.ADDITIONAL APPLIANCES ADDENDUMAny additional appliances on premises (such as washing machine, dryer, microwave, etc) are provided as is for the tenant's use.

Depending on how flexible the mortgage underwriter is, they may or may not allow the above.

If purchased at the sale, would I then be responsible for the 2nd mortgage in addition to what was paid at the sale or would the proceeds go to the 1st position and the remainder go to the 2nd position and leave me responsible to the remaining mechanics liens and back taxes?