First deal a MF - too soon?

[Victoria D.]

I'm considering a MF to be my first deal that I look for - is it too soon? Or should I start out with a couple SFRs or even some duplexs or a quad plex to get my feet wet? How big is too big when starting out? I have 0 experience managing, so I feel this will be a weak point. 

[Andrew Johnson]

Victoria D. The larger the unit count the more likely anyone (including you) need to favor in property management as an expense. Even if you're going to self-manage the next buyer might not. Conversely, an SFR is sellable to an owner-occupant where value isn't based on a cap-rate dependent on NOI. Not to mention that in some markets (like California) you are required to have an onsite property management. I don't know where you want to buy but you should look into that. So my prevailing message or advice would be to get a property manager (at least for the first year) to get the cadence down for the property, learn the business as much as you can, see how expenses come in, etc. You can always decide to self-manage in year two. If a single year's PM expense turns a "good deal" into a "bad deal"...well...it was never that good in the first place!

Side note: This is from the perspective of someone that buys out-of-state multifamily properties and uses a property management company.