Purchase price: $2,400,000 Sold a single-family home and did a 1031-exchange into a 5-unit building at a cheaper price.

Steps: you go under contact with the owner of the property, you assign the purchase and sale agreement to the end buyer, the end buyer closes, and you get paid the difference between the agreed-upon price between you and the owner and the intended purchase price of the end buyer. 

What's the purchase price? 

The tariffs are another thing that's gonna significantly raise material prices.

We currently stay in Miami and prices here are very expensive i do want to stay in my backyard but prices are extreme  so i would love to explore some out of state markets ! 

The environment now with higher interest rates and higher purchase price does make it more difficult but definitely doable. 

Creative Freedom: You get to design and transform spaces, which can be personally fulfilling.The Bad: Where Flippers Lose Money⚠️ Underestimating Repair Costs: Surprise structural issues, contractor delays, and material price spikes can kill your budget.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

You can increase returns with leverage (that is a mortgage) or with value add (renovations, additions etc).I think cap rates (rents minus expenses divided by purchase price) on commercial and industrial is higher with less work involved, but its more expensive than I can afford--so I know next to nothing about that land.

And what is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"?

But, assuming this is a fairly accurate number, the little I know about San Diego (and quick look on Zillow for multifamily properties) seems like $1.5mm is the minimum asking price for two units.