What is a good size population to invest in for multifamily?

[Korey Harmon]

What would be a good size to invest in for multifamily? Right now, I am looking at Florida markets and  have a range of 100k to 250k but I feel as if that may be too large. Any insight or help is welcomed, thanks!

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Quote from @Korey Harmon:

What would be a good size to invest in for multifamily? Right now, I am looking at Florida markets and  have a range of 100k to 250k but I feel as if that may be too large. Any insight or help is welcomed, thanks!

First, there are different sizes for multi family. Most people think 2-4 units because FHA favors those for lending. Then there is 5 to 65 or 70 units because that is less looked at by most people and most businesses and is sometimes self managed. Then there is 70 to 200 or so for syndicators and above that is the big boys and is very competitive.

I'd be comfortable looking in a city of 100K to 250K population that I'd be able to find a multi that cash fows. Be patient tho, there are a lot of people looking.