Someone who can't save up for a new purchase every year but still has a lot of desire for growth in their area of expertise.

As we all know, you are really paying for the commission in the purchase price. 

The latest red flag is his belief he purchased a "fully renovated" property in Philadelphia for $115K.

Single family has more stabilized as there is not enough people who can afford homes.The purchaser is two very distinct types of groups who buy MF vs. single family and single family is bought to own and occupy, MF is bought to generate money.

To be successful as a real estate investor in any form - except maybe purchasing the Vanguard REIT index fund - an investor needs education, knowledge and understanding of real estate principles, real estate law, and real estate finance.  

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

My name is Ashley Kroft and my mother-in-law has a property in El Paso, TX that will be refinanced soon to purchase my husband and I's first rental property.

Hello,I purchased my first rental property last year and rented it out for 10 months.

Purchase price: $115 Cash invested: $17,000 This is my first fix and flip.

You can purchase them through a local dealer that has a good track record in the community.At this time our cleaners take care of the hot tub, but I will say if you have a certified hot tub company that can come weekly, I would definitely go that route!