This would allow you to indefinitely defer the tax on the property and use it to purchase larger property/properties in a nicer appreciating area.

The house, built in the early 1900s, was outdated and required major renovations.

But starting with single-family can be a great way to gain experience and confidence before tackling larger deals.If you were someone I knew personally, I would probably suggest multifamily, but it's not for everyone.

There are a LOT of operators that are scrambling at the moment, and dont come close to our buy-box, however I do invest with 3 larger operators (BAM is one of them), and overall I still believe their underwriting is sound and viable.Im not at liberty to discuss details, however I see some good things on the horizon with this group.

They used a HELOC to finance a multi-family purchase, which allowed them to make staggered acquisitions and keep cash on hand for renovations.

You can get a "renovation heloc" which will give you a heloc based on the ARV of your property.

I've owned property in the Boston area since 2013 and have never had a vacancy aside from when I was doing renovations.

Rough calculations on what I need to be looking for:90k deal (purchase and renovations to get max rent)20% down = 18k from me80% bank loan at 8%, 20 yr amortization = 72k-------------------------------------------------- Here's my DSCR calculation:Calculate Net Operating Income (NOI):Monthly rent: $125040% expense ratio (taxes, insurance, repairs, vacancy) = $480NOI: $1250 - $500 = $750Calculate Monthly Mortgage Payment:Loan Amount: $75,000Interest Rate: 8% per year (0.08/12 = 0.006667 monthly)Loan Term: 20 years (20 * 12 = 240 months)Monthly Payment ≈ $627.83Calculate DSCR:DSCR = NOI / Monthly Mortgage PaymentDSCR = $750 / $627.83DSCR ≈ 1.20Therefore, with a $75,000 mortgage at 8% interest over 20 years, the DSCR is approximately 1.20

I’m new to private money lending, so while I understand the concepts in principle, I’m still figuring out how to identify and connect with these investors in practice.To clarify, I’m targeting 6+ unit multifamily properties, and private money is a way to scale my expertise from smaller properties into larger ones.

@Ethan Slater here's some info we hope you find useful:Recommend 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?