Ready to start...Help!

[Heidi Kenefick]

Hi All! I'm new to this community and very excited to learn from all of you.

I am moving to Connecticut in a few months to start my first job as a pediatrician, and would like to buy an apartment building in the Hartford area using the money I will get from selling my house in North Carolina as a down payment. Then live in one of the units while renting out the others, until I save enough to buy a property just for me. 

My only experience as a landlord is renting out my spare bedrooms in my house to travel nurses via AirBnB. It has been really lucrative for the past 2.5 years, but I am ready to jump into the "big leagues" once I move up to Connecticut. I realize that AirBnB and a 4-6 unit building are very different, and would like to learn as much in advance to avoid making a huge financial mistake. 

Any advice on how to use a realtor to buy an apartment building (or names of good ones)? Anyone in that area know areas to avoid purchasing vs good areas to buy? Any recommendations on buying a brick 6 unit building vs a house style 3 or 4 pled? 

I've found some on Zillow that seem like good deals, but sometimes I wonder if things are just too good to be true (i.e. sellers stating cash flow in the ranges of 30-60K/year)

Thanks guys! -Heidi

[Brian Pulaski]

@Heidi Kenefick there are a couple realtors from CT on here that will be along soon I am sure. With that said, definitely use someone with local knowledge. Hartford (if you intend to go into Hartford itself, verse the Hartford "area") has some really, really bad areas. Hartford also has very high property taxes. You will need to go over your numbers as you would with any rental, however I would absolutely be cautious on where you end up. Along side having a knowledgeable local realtor help you, I would also go see the locations myself. What on paper is an ok area, may scare you once you actually step foot there.

I have been threatened to be shot in the north end of Hartford in the past (I was working on a window replacement project and trying to get measurements) and been in a few other uncomfortable situations in different areas.