Managing a rental property can be challenging, especially if it’s your first experience.

(but... it only works if you significantly boost the ARV of the property. 

My primary interest is in small multifamily properties (1-4 units) priced under $300,000.

We’re considering whether to do mid-grade updates and rent it soon if we can find a good next property though acquisition and ongoing costs are a problem.

Hey Ryan, welcome to the BP Forums.Three properties in a year is really impressive,congrats!

@Marquez Cadet Haven't used one in a while, but I am currently seeking bird dogs in Eastern PA, DE, NJ and Northern MD and am willing to pay $1000 per closed lead (paid when I close on buying the property).

If you're buying a true investment property (meaning you wont live in it), FHA is completely off the table and Conventional/DCSR will require 15%+ down.

Property ClassProperties are categorized by class, impacting their quality, condition, and investment profile:Class A: High-end, newly built, prime locations, attractive to institutional investors.Class B: Good quality, older than Class A, with minor deferred maintenance.Class C: Older properties with dated amenities, but value-add opportunities exist.Class D: Distressed properties in less desirable locations with high risks but potential for significant improvement.4.

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

@Raquel ReedRecommend you understand the property Classes, so you buy wisely!