My wife and I are new investors transitioning into Commercial Real Estate, with a focus on multifamily properties.

The property is located near two colleges, so I’m focusing on student tenants and planning for 12-month lease terms.Do you have any tips or advice for renting by the room?

We focus and specialize in "on market" MLS deals. 

It's a low barrier to entry and a good option for you, I would highly and I mean highly recommend you focus on location.

It frees you up to focus on living your life and acquiring more property.

They also appreciate honesty and transparency so they can make decisions fast without any surprises.Some of the top skills that you can focus on are:Comping: Knowing your comps inside out is a must.Negotiation: Being able to connect with sellers and strike a good deal is huge.Networking: Relationships with buyers, agents, and other wholesalers are invaluable.Also, Get to know your local market being able to talk the talk in your area will help a lot.

Definitely focusing on offmarket or even on market multifamily homes (minimum 4 units). started off in real estate development last 2 years but the paydays are brutal building then waiting to sell.So now looking to switch up strategies to purchase cashflowing properties and then get back to ground up construction or even possible fix and flips. 

I would suggest focusing on Norfolk over Portsmouth,  its a better market with more appreciation. 

I’m also a newbie to commercial real estate, focusing on multifamily, but I’ve found that many principles overlap across asset types.

Kindly let me know if possible.RegardsHey Kemi, I'd suggest working with an investor focused agent who also invests themselves.