Wow, thanks for the fast responses! I do agree, that living in the building initially will not be something we would want to do after you brought up some good points. Currently, I do own a rental home so I have some insight into landlording and enjoy it for the most part. I have learned some hard lessons along the way and vow not to make those mistakes again! Owning a single home seems to take as much time as it would a multi unit-thus, moving into something larger and having a property management company manage it. What size building (# of units) does it make sense to start looking into a property management company? Also, for now, I think looking at a duplex or 4 plex may be the way to go to start and then build up to a larger building. My thought is to stair-step my way up to a 24 unit building. Is there a big difference (other than # of units) managing a duplex vs 4plex? Do you think it makes sense investment wise, to take some money from my retirement accounts (not all) to invest in an apartment building? If I put down $100K, and got cash flow of say $6K/month on a 24 unit building, that seems to be a good return of 6% consistently. thoughts??
again, thanks for the feedback!
