Where are the Bombs with smaller multi family
Hello everyone this is my first my post, I have been working the area of NE Pennsylvania and have found that appreciation is tough here. My initial focus was BRRR and initially I did not have a plan for seeking off market deals. This has lead me to deals where obtaining the value to refi was very difficult if not practical. After completing analysis of several properties I have found what I would consider a niche in this market , multifamily that carries me into commercial because they exceed 4 units. In this scenario I am able to obtain an income valuation that makes a refi work and retrieve my initial investment within the first year which is coming from a HELOC. So my question is working properties that have 5-10+ units and obtaining a commercial loan that affords me the valuation to be able to refi and retrieve my initial investment and move forward within a year what are the bombs that I have not accounted for. Due to the lessons that I have learned I now account adequately for cap expense, repairs, and vacancy which I did not before. I appreciate everyone's input. Thank you for your time in advance.