It is the Most Hazardous way to buy real estate and not quite as easy as you state. 

We buy everywhere.

For a number of years I've formed transactional partnerships (form an LLC with single or multiple members to buy a building, build condos, townhomes etc).

If you are trying to raise a few hundred thousand to buy another 4-6 unit property, while I would not invest in someone with less than a year experience, I am guessing some of your pilot friends, other friends, or family members may be willing to chip in.Now, if you want to jump from a triplex to 80 units, raising 4-5mm of equity and another 4-5mm in debt, than I would just manage your expectations. 

Quote from @Devin James: In one of our development projects, the City staff asked us to remove 40 units from our concept plan.This wasn’t requested by the City Commission at a formal hearing, it was the opinion of the staff.Our original concept already proposed fewer units than the current zoning would have allowed.Here’s what erasing 40 units means:- 40 fewer homes for buyers- Over $1M in lost profit for our team- Fewer tax dollars and impact fees that could’ve benefited the City’s infrastructure & servicesWe gotta get betterEveryone wants more affordable housing, but not everyone wants to do what it takes to achieve it we never listen to the recommending bodies. we move for city approvals and work closely. the other thing we do is keep going back to the same groups over and over and over and over every month on the same agenda and make very small reductions like 2% or 4% and that reduces and beats them down eventually they accept what you want. it's just before beating a dead horse. we keep tabling until they give us something we all agree on then we go to vote. in our city in columbus we have to get recommendations but that's our strategy. we used to come out as aggressive as possible. we typically study developments in the area and keep it very similar in terms of density. we have a track record of very controversial projects and litigation and not taking no as an answer. after a year of that haha I can tell you it's not worth it. now we are more relationship based and buying the right kinds of plots of land. if the numbers don't work on the front end don't do the development. 

if there is appreciation, but you wouldn’t sell your current home tax free and buy a neighboring home to rent out, (There by raising your cost basis for additional depreciation and lower capital gains tax.) then it probably doesn’t make a good rental property. . 

I am buying it furnished. 

@Jake Baker  You should think about a rehab loan if you are going to buy and hold.

I will have to buy turn key since I'm starting out.

We are not looking to buy in class c or d.