Got stuck in those loans and basically lost everything.

If it's a decent sized multifamily and if you haven't raised the rent 50% in the past three years, but basically maintained them then I would probably use some equity to buy another well cash flowing property.

THIS IS A VERY TRICKLY PROCESS AND THEY REJECT MORE THAN 50% OF W-7 AND THEY HAVE TO BE REFILED....according to my CPA.The tax preparer will need to do a paper filing of the PARTNERSHIP INCOME tax return and it will also be sent to a special unit at the IRS with the investors completed W-7.

None of my properties do, and the capital tied up in them continues to perform just fine.That said, it's more difficult to find a property locally where the free cash flow is better than, say, the dividend income thrown off by investing in a Blue Chip dividend mutual fund.If you're looking at small Multifamily properties locally and want a first pass "rule," I suggest using a GRM target of 12-14 as a first screen, assuming you're looking for a property that will throw off free cash flow with a 70% leveraged mortgage.If you want to more than basic long term buy it and hold it, you can do it.  

No fuss, no muss.BPers are so caught up in the super high level complex and difficult stuff, I feel like you guys sometimes forget the basics.

Took a weekend course and learned some basics, and bought my first property a month later in March.  

I typically see seller to provide a basic owner's title policy.

Basically, the property has to be habitable and safe.Section 8 often covers all of the rent, but in some areas where they only cover a portion of it, it all boils down to the quality of the tenant and their past payment history.  

Basically, a colleague of mine has bought a property, all papers have been signed, and she is closing in about a month.  

You basically need to know you've been awarded the credits, otherwise you won't have the capital to complete it.