New Investor Seeking Multi-Family investing Advice

[Daniel Goerner]

Hey BP,

I graduated in May, got into real estate in July, started seeking agents, mentors and lenders out in September and am now about to be approved for a purchase.

1. I would like help estimating expenses, I plan to self-manage a multi-family unit and set aside 20% of my profits for vacancies, repairs, maintenance etc. Is that enough?

2. Looking for homes that are listed from $160,000-$200,000, needing medium to low repairs, for a $200,000 listing is offering $120,000 okay? What do you do?

3. Are there any ways you keep your closing costs down? I am currently applying and looking into grants.

Thank you in advance!