Then I thought about acquiring a piece of land and building a multifamily on it, but I think this project level is not for beginners. sigh.

AO

The bottom two levels are Ohana units rented full-time to local residents and the top level is a fully remodeled 5 bedroom 2 bath AirBnB.

The lower risk the property the lower risk the tenant so I created The Ultimate Guide to Grading Cleveland Neighborhoods to help investors determine what risk level is associated with each property they are looking into to allow them to gather a bit more of an estimation on tenant behavior and subsequent costs the rely upon it.As for large Cap Ex items here are a few things to note that should help you out.Water tanks are going to cost roughly $1,000 to replace and will last around 15 years.Furnaces are going to cost roughly $3,000 to replace and will last around 30 years.A roof on a 1,200 sq ft bungalow is going to cost around $5,000 to replace and will last around 30 years.

I'm paying more than triple that but then, he has 50 staff, is leap and bounds ahead of where I am and you don't get a free handout from anyone at that level (I wouldn't expect one anyway!) 

I will post some before and after pictures of the lower level, I have more but I need to dig them up.

What this area does have though, are a lot of split level houses where the lower level is considered an in-law suite and many have separate outside entrances, a full bath/bedroom and we would put in a kitchenette and permanent door to create a separate unit. 

That would indicate to me that investing is a low priority since your income level is not very high indicating you should be able to be mobile employment wise.

Let God, the Universe or whatever else you call it handle the rest of the details.I don't know what your experience level is at this but I have found that the less you invest (emotionally) in the outcome, the more likely you are to get the deal.

I would imagine this is universal throughout the country, but since Section 8 is run at the local level, I am not sure.We got written up for a torn screen (window) in the winter.