Having done the barest of research, we've looked into the idea of pooling our money to try and buy a multifamily for my wife and I, my dad, and the two friends, as the two friends also want to stop renting and to start owning, even if it is part of a multifamily/apartment building.

No matter what size your business is, we strongly encourage you to consider this amazing pool of talented professionals.

If you don't own the house yet, you really need to pay the guy otherwise it's a waste of his time.Sometimes roofers and pools companies will give an estimate based on google maps. 

If you want to use leverage 2-4 units probably gives you more financing options and also widens your pool of buyers for exit strategy. 

There is a small group of locals who are anti-STR but the good majority are pro-STR due the the fact that STRs bring a ton of revenue for local businesses and jobs for locals.Regarding summers, the temperature is the hottest in August and can get up to 100 degrees so STRs with pools do better in the summer.

I'm aware of seller financing as a possible option and will be on the lookout, but it certainly dramatically lowers my deal pool in an already incredibly competitive market.

But at a certain point, your renter pool becomes smaller and there's a diminishing return on your investment to differentiate your property.

I purchased in 2019 and there was certainly a learning curve (understanding county rules and code, getting to know the local renter demographic, dealing with a limited pool of service providers in the area, understanding fire risk and mitigation; etc).

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Explore partnerships or joint ventures with other investors to pool resources and mitigate financial risks.Good luck!