1st Potential Multifamily Unit

[Ryan Young]

I currently have 2 Single Family units and am looking into the possibility of buying my first multifamily unit. The goal for me is to replace my 9-5 income and I believe a mixture of SFH and Multifamily will be the quickest way. I have come across this 10-unit in Hattiesburg (where I do all my investing) and would like to see what you guys think about it. It is listed at $295,000 and could use a little bit of work. It is directly across from the university and I think could be a great property. The current rents are around $400-425 per unit but I think with a little bit of work, they can be around $500 per unit. I would bring on a partner to help fund the 20% down payment and eventually refinance to get capital back out. Look forward to hearing what you guys think.

https://www.loopnet.com/Listing/528-N-26th-Ave-Hattiesburg-MS/14805044/