It's also a great time to lay down the ground rules and make sure they are on board and just establish rapport in general, which to me is important. 

I then run the numbers not for what the asking price is but what I can offer to make them follow the 2% rule, as well as 1.75% and 1.5%.

However, I do know there's codes and rules for the units to "pass" to be section 8, so I would look into those before the purchase (see if and how much you might need to put in) and know some basic things like that if you don't already.

So i've heard many people talk about the 1% rule.

This rule ensures any deflation in value occurring while the property was held as a personal residence does not later become deductible upon sale of the rental property.

how did you do a private loan on an owner occ 4 plex.. did you follow dodd frank rules and have an MLO do the deal for you as the law dictates. ?

@Jay HinrichsIt all smacks of something for nothing and if you just buy these little coupons, everything will change for you because Charlie P. knows the insider's rules to how the sausage is made.

You can rent it out, but for less than 3 years (the rule is lived in it for “at least 2 of the last 5 years”) and still get the cap gains exclusion.  

It is a fundamental rule to investing....leverage increases risk.  

Without significant effort employed in this "business", you run afoul of hobby loss reporting rules.