Wanted to also echo that the arcade guys is a garbage project.

Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

Related, you will want a contractor who is used to doing projects like this on schedule and on budget.

Tough to refinance with late payments especially into 30 year mortgages.

Quote from @Anderson Banegas Cerrato: Natalia, I feel for you—it’s tough when you’re trying to do the right thing, and a tenant makes it harder.

Buying and selling MF on your own going to be pretty tough this gets you going and if by chance you like it and can start to represent buyers and sellers you will make some pretty nice commissions..

These larger projects are going to have a lot of steps.

I allocated $500/month for insurance which is part of why such a promising revenue to cost projects such poor COC.  

@Sean Michael San Diego's real estate market can be a tough call for renters vs. buyers! 

Once you've gained enough experience, you can transition to more BRRRR projects.