Advice on if my wife and I's finances are ready to buy 1st MF.

[Joseph Bennett]

I've been researching and saving for 3 years now. I'm fully convinced real estate is the way to go.

My wife and I are already invested in a gym and making returns on that. We have $22k in the bank and want to buy a multi in Florida's west coast where we live. The market is hot so multifamily is expensive.

Hoping to get a tri or quad but open to a duplex. So if we put about $15k down on a property, for example a $360k triplex and only had $5k left for reserves would that be risking too much? We make good money and are saving about $2k a month and if we moved into a into a property we owned it could save us an additional $500/month. I'm starting to get a little scared when I think of what could go wrong and having limited reserves. Should we just go for for it or save up more money?