@Dean GulloTo build connections in Southington and surrounding areas, join local real estate meetups, connect through BiggerPockets forums, get involved with local landlord associations, reach out to real estate professionals, attend town or community events, and expand your team.

Best to involve attorneys/lawyers as well, but it depends on the type of financing you get.  

Sure, the cash flow might be tight, especially in a high-cost area like Seattle, but you’re building stability and experience, which is invaluable when you’re just starting out.To be transparent, I invest out-of-state and help others do the same, so I’m incentivized to tell you the opposite.

Given current rents and historical expenses plus some cost escalation, I believe stabilized cash flow of $12k/year is a reasonable expectation excluding any major CapEx.

Also, multi-unit sales involve more legal and financial nuances than single family homes so it will be in your best interests to work with an agent.

Once stabilized, you can refinance out of the hard money loan into something more conventional.

Hi Alex - There is a different things to consider when involving international investors.

@Jaskanwal Preet Singh ChhabraRefinancing a converted property for coliving involves appraisal, loan types, interest rate reduction, and careful planning.

@Renee PohleStarting with a primary residence in Boston offers long-term stability, house hacking potential, and equity building, but may have high upfront costs and limited cash flow.

@Mike TikhRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?