2nd Investment - Out of State - Multifamily

[Florence Sullivan]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $89,000
Cash invested: $110,000

Cash purchase. House turned into a 4-unit.

Lessons learned? Challenges?

I wouldn't have paid it all cash and would get a mortgage. Didn't get an inspection report, big mistake, a lot to renovate.