Network with wholesalers, check public records, and use platforms like PropStream or DealMachine to find distressed properties.Be Cautious: Pay attention to permits, inspections, and local market trends—over-improving for the area could hurt your profits.Starting with a solid plan and realistic numbers will set you up for success.

Solid multi family properties can be hard to come by on the MLS (I check for hours everyday).

But in terms of being able to grow a portfolio with a ton of equity and solid cash flow, being a builder in this area really works.I think the STR part of it also helps as well.

Here are some of my initial thoughts that has pretty well held solid and possibly even become more solidified. 

I closed on less units in 2024 than I did in 2023 but I put in a solid offer on a new deal this evening.

We just discovered a crack in the concrete slab foundation that is a borderline major problem:- It is a vertical crack about 1/8 inch wide that is at least 9ft long, which is causing a 3/4 inch drop in the flooring and some evidence of old (luckily) limited moisture and termite intrusion. - BUT, it also appears old and probably a symptom of the original house settling.

Unless you actually wrote the algorithm, you really have no solid idea of how they work.

If you pick a solid property in a good area with good schools, it'll appreciate - it'll be negative cash flow as a long term rental (unless you have some creative strategy or do STR/MTR) and you're less likely to have repair, tenant issues, crime etc.

Think beachfront condos that not only cover their costs but actually give you solid cash flow.

I would also only do this if both properties have solid appreciation potential.If it was me, I’d consider trying to get a HELOC on the first property and use the funds for a flip or a BRRRR so I could pay back the line of credit within 6 months and then go do it again.