According to a lawsuit, Ratajkowski and her husband (total net worth of $17M) have been able to live rent-free at their 1,100 square foot apartment because of an obscure New York state law called the Loft Law.

Owning income real estate directly is one of the many ways of owning income real estate and the way most frequently discussed on BiggerPockets because it involves the most hands-on activity (and when done correctly, probably yields the highest return of all the different ways of doing real estate).

Whats the best advice for finding, funding, and doing deals involving commerical real estate?

Hey BP, been a member here for a few years but never been too involved.

Unfortunately, either way it involves a) trusting a third party, like a syndicator; b) landlording; or c) dealing with a property manager. 

Wanted to get involved in RE last year, but wasn't able to find anything that worked out, so I purchased a SFH so that I could at least stop paying rent. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

@Jason Behrens How big in terms of square footage and bedrooms are the units you want to convert to electric heat and can your current electrical system in the home handle the added load of electric as the heat source.

The reason I ask is we are pitching this model to friends that may want to invest and get involved and I want to build an accurate performa.That being said, do you all have insight on what the original startup cost is for furnishings, small appliances such as coffee machines and first round of consumables (ie coffee, cleaning supplies, toilet paper etc)?

I understand that this gentleman had personal reasons for not wanting any form of law to get involved, but that still does not convince me I could get him out of the house when I want him to.Has anyone ever dealt with an issue like this?