For multi-member LLCs, definitely work with an attorney.

I am based in Chicago and can help on building your industry knowledge on behalf of multi family investments along with single family in order to create generational wealth.

Both are multi-family apartments and one has a 3.9% distribution rate and the other is 4.01%. 

Hey everyone,My wife and I purchased our first multi family home in Feb 2022 for 495,000.

For more details buy the Book on Flipping Houses,  for a few bucks. 

Since then Arizona State University has grown tremendously, new high rise apartments showed up, multi units started specializing in marketing "room rent", and of course home owners that bought decades ago are able to undersell like the mom and pops in your area.Kudos for identifying that your customers value proximity to entertainment more so than to educational facilities.  

I am drawn to multi family homes and think I would like to start close to home here in the Twin Cities, but the more I listen and read, the less opposed I am to looking out of state. 

Buying a condo seems like a huge waste, whereas multi-family gives some cash flow to neutralize my monthly payments.

when underwriting a property a good rule of thumb would be to set aside ~5% gross income for each Cap Ex, maintenance, and vacancy. (15% total)I dont know much of the market in TX but in central MA i work with a lot of investors that are interested in acquiring multi family properties so that's mostly what i deal in. 

My biggest advice is to start investing where you have a good network of people you know like and trust...this especially holds true if you will be investing out of state.While it's not impossible to go straight to the commerical I personally found it easier to start in the residential world and then make my way over to commerical multi-family.