Preparation is key, and relationships are everything.When closing a property deal, the funds typically required include a purchase deposit, which is refundable during the due diligence period, and an additional nonrefundable extension deposit.

.: @Natalia Perlova1) You should have a lockbox somewhere on the property with keys to every unit so if you give notice a vendor is coming and the tenant isn't there for some reason the vendor can get access.2) A plain light switch for something important isn't a good idea for the common area.

The key is understanding your comfort level with managing multiple units right out of the gate.. 

Whether it’s a multifamily in Boston, a value-add deal in Worcester, or an investment property in Lowell, the key takeaway is the same: the listing price is not the purchase price.Here’s an example I use with clients: If I sell a 3-family for $650,000 and list it at $599,900, suddenly, it looks like it sold for $50k over asking—“Wow, it must be a great deal!”

Building a strong network is key, and you’re definitely in the right place to connect with experienced investors and learn from their successes (and mistakes!) 

High-quality photos and detailed property descriptions are key. 

In that case I write off the lost rent as cost of doing business, but I prefer that to the expense and hassle of an eviction, which typically ends up costing us more and takes longer, even though Milwaukee is still pretty landlord-friendly.I have also done cash for keys, but typically very conditional. 

The key is to zero in on one market and really dive deep into understanding it.

The key will be the lender’s terms.

The key is you need to make that investment but also like any investment, realize you can lose it, especially if you are not experienced or do not have a plan.