My goal is to acquire at least 1 multifamily property in 1 year and build up to $5,000 in passive income per month in the next 5 years.

Looking for large apartment complexes and repositioning, not easy so I do flips and development to build up capital.Daniel

I plan to build up some capital mostly through fix and flips to the point where I can put 20% down on rental properties and even BRRRR some small multi-family properties down the road. 

That will pretty much be a wash, but this area is booming, and I want to keep the property for equity buildup/appreciation purposes.Thanks

That will pretty much be a wash, but this area is booming, and I want to keep the property for equity buildup/appreciation purposes.Thanks

The property has the zoning to be build up to 7 floors...but we can not find any comps in the area for such a building, since most of the buildings are 2-3 families and some distant coops. 

The property has the zoning to be build up to 7 floors...but we can not find any comps in the area for such a building, since most of the buildings are 2-3 families and some distant coops. 

While out there, meet with professionals that you will need to build up your team.

When I was younger and deep in debt with little cash, I was forced to use my day job to build up my cash reserves and pay down my debt.

If she went to Assisted Living - I can help you but it's only KS Specific - each state is different but I'm guessing some of the guidelines carry across states in regards to how she will pay for the ALF and eligibility for Medicaid and Home and Community Based Services (which is a medicaid program that would help pay for ALF)Anyways in KS - in for someone to qualify for HCBS/Medicaid to help pay for their care either in the  home or assisted living - you need to have less than $2k in assets - and consistently less than $2k in the bank - there is also something called a 5 year lookback period - I do not 100% understand how the lookback period works but will soon enough.So - as far as the assets are concerned - if your friends mother has the house and any savings there is no way the govt will be paying for most of her stay in ALF - and I also think it would be difficult to house her in an ALF facility for $3k per month - can be done but tough - Due to no estate planning the family needs to decide on what they are going to do - they will either need to sell the house now and just pay her money down at the private pay rate in a facility until she "runs out of money" then apply for Medicaid and go from there or see if the strategy of renting the house with her present income will be enough to cover the facility she's staying at.Individually the systems are simple however there are so many moving parts to Medicaid HCBS I've discovered in my time as owner of a facility I can 100% understand the families frustrations.