About to Close on Multi-fam, what next?

[Zachary Watson]

My wife and I are about to close on a three family in Massachusetts, we are going to be renovating two of the floors for a higher rental, what do we do next, we we don't have much cash now that it is in the house or in renovations, what can we be doing to get into our next deal?

[Andrew Johnson]

@Zachary Watson My two cents: do NOTHING.  Go through the first rehab you have planned.  Get tenants in and see how it goes.  You'll make mistakes along the way no matter how many books you read.  Mistakes with two units is far less costly than mistakes with two units + your next deal.  At the very least you need to gauge if your rehab estimates match up with reality (they could be better or worse) and if what you think your can get for rent matches up with post-rehab reality (again, it could be better or worse).