It’s also worth considering a multi-family property for your first deal since it can help with cash flow.

Then you can trade up to another property where you can force equity. 

One thing to be mindful of is the cash flow of the property as you get into higher LTVs.

@Derick JenningsRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Or just sell it at a loss… I need some guidance here, I know very little about real estate investing other than I know I’ll be losing money after maintenance and paying a property manager.

Hi Willie, I think it would be best to wait until you have more capital to put down for a multi-family property. 

What I see is typically in the $3k - $6k range for those types of properties.

Purchase price: $255,000 Cash invested: $51,000 Second property, bought soon after the first multi-family.

I live in Central MA and am looking for a new property(s) to buy and hold in CT. 

All is not lost, if you can find a seller of the apartments who is alos willing to finance the purchase for you;  Or look for a private/hard money lender.