If have investment property, we are looking for relatively updated units (we are ok doing some work ourselves), class C+/B tenants, with rents either close to market rate or that can be increased.

A multi-unit property was purchased for $140k. 

However if you are self managing, that is work. 

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

But since there are 10's of thousands of units here, bigger is typically better because there are fewer of them than smaller condos and towns.

If you're planning on living in the unit during the winter and renting it out over the summer, you could have the best of both worlds.

Building small units in small counts is expensive development.  

Ask how many units they manage and how much experience they have.

Not to say you cannot find a deal in many of those states but for a first time investor wanting to be cost efficient it makes little sense to stick to those states.You do have states like Indiana, Ohio, Tenn, Florida, Georgia, Texas that offer higher inventory of home prices even 2-4 unit multifamily that are under $200K.

.: Self-proclaimed “Short Sale Queen” and associates indicted in federal mortgage fraud schemeTuesday, December 3, 2024For Immediate ReleaseU.S.