On this product you will need a minimal of a 15-20% down payment.  

My primary question is: Should I focus on buying a multifamily property and growing slowly to build a stable financial foundation, even though my area would have minimal cash flow and be more of an appreciation play?

But many others, especially traditional layouts that need updates, even easy, cosmetic ones that have dark paint, old carpet, appliances, etc., are just sitting, so you won't have as much competition there but may have to take some time to update.     

Not all but many scammers like to be GHOSTS providing minimal information as possible to engage a consumer in the marketplace. 

At minimal the personal loan would be incorporated into your debt to income ratio when you apply for the financing on the purchase if you were trying to qualify on a full documentation loan. 

They undergo regular training and stay updated with industry trends, laws, and best practices, ensuring high-quality service.Access to ResourcesNARPM provides its members with educational programs, legal updates, and networking opportunities, enabling property managers to handle any situation effectively and offer informed advice.Efficient Tenant ManagementNARPM property managers excel in tenant relations, from screening and lease agreements to conflict resolution and evictions, ensuring stable rental income and minimized vacancies.Legal ComplianceNARPM property managers are knowledgeable about landlord-tenant laws and regulations, ensuring compliance and protecting you from legal issues.Maintenance and RepairsNARPM managers have reliable contractor relationships, ensuring timely and cost-effective maintenance and repairs, along with regular property inspections.Time and Stress ManagementBy hiring a NARPM member, you delegate daily management tasks to a professional, saving time and reducing stress.Financial ManagementNARPM property managers handle rent collection, accounting, and financial reporting, providing detailed and accurate financial statements for informed decision-making.Marketing and Leasing ExpertiseNARPM managers use proven marketing techniques and platforms to attract and retain tenants, ensuring quick rentals at optimal rates.ConclusionChoosing a property manager is crucial for any landlord.

So $11,222 times 22% is $2,468 - leaving you a true profit on the house of $8,754 for an all encompassing 6 month intensive project that you will likely feel lucky to get out of with that profit, because you did your very best to minimize expenses along the way.How do you quantify this number?  

The goal is to maximize wealth, not minimize interest payments.

Be ready to pay off the loan, end buyer refi (the reason for a wrap is not always bad credit), sell property, deed back and do a lease purchase option for a while (depending on what state you are in), whatever needed.The banks are not gods - they are just entities that do not care much for their customers due to being too big.Stay safe out there kids this all works if everyone pulls in the same direction and as you note have ability to cure and refi etc. where it goes wonky is when the wrap buyer squats and the sub to buyer has no real means or is out of the deal and also goes dark.. the original seller gets fubared. 

With a purchase price of $62,000 and a sale price of $86,000, the property promised substantial returns with minimal risk.