I started purchasing a small multifamily in Columbus, Ohio 2 years ago.

I seriously looked into purchasing a few years back in Valencia but decided ultimately the US had more potential.

I’m interested in purchasing an investment property with equity I’ve developed in my current home, however I’m concerned that if I have an issue renting out the new home it can blow up in my face.

Your 'cost' should include everything, from land purchase, soft costs, holding costs, and hard costs.

Purchase price: $275,000 Cash invested: $129,000 20-unit hotel, was abandoned and had sat on the market for 3 years.

Any amount you purchase less than you sell, or any amount of cash you take out is considered to be profit. 

We've sold 65+ homes and the biggest request we get from our Buyers is help with closing costs.Most of our deals we're providing anywhere between $5K-$10K to help Buyers offset the cash requirement to purchase a home.Even in today’s "high" interest rate environment, many Buyers prioritize closing cost assistance over an interest rate buydown.

If not, I most definitely would reach out to the tenant, introduce myself and ask if they are going to be out by the 31st or the 1st, I would communicate  to the tenant as if I know they were told they are expected to leave, otherwise you may find they "do not know" they need to leave even if they actually know they need to leave....In the case they claim they are not aware they need to leave, you would need to follow the laws in the state you purchased the property, usually you can find that info on the states judicial branch or speak with a landlord tenant attorney. 

For example one property I purchased 4 years ago was a two family townhouse. 

Quote from @Yash Shah: Hello everyone,I'm new to this group and would love to hear your thoughts on the pros and cons of purchasing a corporate or bank-owned home.