multifamily worth it?

[Rito Altamirano]

hello bp !!  Well i have some questions regarding multi family, it seems like every google search brings up mfu post from like 08 09'  so I was just curious to know how many out there Currently (2015)  own MFU properties? In what markets?  How many units 2,3,4? Has it been smooth to manage or have there been tons of issues?  Also are you profiting? If so how much ? What kindve financing and amount of down payment did you use? And what kindve renovations nd repairs were made over the year? And is maintenance expensive? 

Sorry to be so nosey in your business but im looking for a bit of motivation here lol. 

Me and my gf are biting the bullet and we're moving in with her parents in january . We will be using our tax return to pay off any current debts and she will be getting a secured credit card to help boost her credit a bit more Which is already at a 720.  We will be living almost rent and bill free paying just 300 for rent no bills buying groceries here and there and paying her car and allowing ourselves a bit of spending money. This will allow us to save 2500 a month maybe more by january 2017 we hope to have 30k cash plus our tax return usually near 8k and will continue adding to the savings while we look for a property.  Overall goal is to have 40k by the time we find our unit. Originaly i wanted to use this cash to qualify for a hml or private loan somewhere and do our first flip. However after speaking with a few succesful investors and 2 very cool succesful lenders everyone has advised me to not gamble with my money at first and invest in a rental primarily a MFU using a fha loan.  We love the idea of living rent free and being able to have the extra money go into savings for future investments. 

Currently in las vegas, nevada ive seen fourplexes i wouldnt mind owning and living in going from around 170k to 235k  with average rent being 750 a unit. So what im seeing is a 200k property okish area with 25k down  at 5 % 20 years with tax and insurance monthly should be around $1400, if i can rent all 3 units for 750 that leaves 2250 income after rent 850 minus 50% towards property , would leave me with a $425 cashflow? And after i move out a year later my unit will become an additional 750 in cashflow?  Resulting in 1175 a month cashflow? 

I hope im understanding this all right lol 

if not let me know and please answer my questions lol thanks for all the help and support!