What was your first investment property?

[Dr. Jordan E Smith]

Hey guys! 

Thanks to all the inspiring stories on this forum and the podcast, the hubs and I are taking massive action getting our finances in order to qualify for the best possible mortgage on our first rental property. Currently getting my RE license, so I can access MLS and begin analyzing more deals.

Already found an amazing agent and speaking with several lenders to find one who will lend on our desired terms: 3.5% down owner occupied on a multi-unit (tri or quad) in my local market. We're looking to build a long-term rental property portfolio. 

My question to you experienced investors is how did you get started? I'm curious about the following specifically:

1. Did you buy a SFR or a multi-unit for your first property?

2. What type of loan did you use? What was your downpayment?

3. What was your initial cash flow after all expenses? (not including tax benefits/equity/loan pay down) 

4. Did you have any land-lording experience or did you hire management right away? (will budget for it regardless, just curious)

Most importantly, would you do anything differently, looking back on your first deal? 

Thanks so much for your responses on any of the questions! 

Dr. Jordan