"It is always wise to look ahead, but difficult to look farther than you can see."--SIR WINSTON CHURCHILL (1874-1965), BRITISH STATESMAN

WHAT EXACTLY IS A MULTI-FAMILY HOUSE? ONE dictionary defines it as a building occupied by more than one family. But that definition does not work in the real estate marketplace. We're not talking about a boarding house or a big, run-down old mansion in which many illegal immigrant families are illegally housed for high rents.

Multi-family houses are free-standing buildings that have from two to six separate living units, each having its own bedroom, kitchen, and bathroom facilities. Most were built in and around cities, both large ...