Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

I believe when you add a 3rd unit they do some extreme things like require you to add fire sprinklers throughout the property which is prohibitively expensive.

I am extremely hard working and will do whatever it takes.

Using our own cash we bought this at a extremely discounted price.  

The contract he signed with them was extremely pro seller, and I think he figured he would eventually foreclose/evict them and we would never know.The guy was a joke, fraud charges were filed by the DA on him, but going after him for any money would have been a waste of time.

Hello Ilya,Where are you looking at purchasing your 1st property.When converting a property from a single family to a multi family, you will need to check on the zoning requirements, depending on your location, not every location has zoning.As far as lending goes, it is far easier to finance a single family up to a quadplex, than financing 5 plus units, the DSCR Market for 5+ units is extremely low right now, and there are few if any lenders in that space.For financing 1-4 units, there are Millions of dollars chasing those loans, so you can easily obtain long term financing, at rates between 5-7%.Please reach out if you have a property identified, and I can help you with financing options.

CocRoi, Cashflow, and dscr would all be helpful as well as expenses Hey Samson, I have several S8 properties in Detroit and I'm extremely open with my numbers and performance of those over the years.Happy to share if you're interested (or anyone else).That would be extremely helpful!

It will only get worse.Hard pass unless he brings an extremely narrow expertise.

I'd just point out that it holds for other states as well.I would think in general states with less environment diversity would not have such extremes.    

To buy a BIG property today, you will need to take on extreme leverage, make a big bet, convince mulitple other people to hand you hundreds of thousands or millions of dollars, and then you have to be right, inside of a 3-5 year timebox, about your projections, supply, demand, expenses, and cap rates.