Most “Gurus”, authors, advisors and experienced real estate investors preach obtaining seller “carry back” financing for property buyers in order to (1) obtain financing when they don’t qualify for a 3rd party loan (2) obtain financing when the property doesn’t qualify for financing and or (3) extend the “buying power” of their capital contribution (down payment) to purchase a larger more expensive property by having the seller provide a subordinated mortgage loan.That’s all and good, but why should the seller agree to finance the purchase of his property, instead of getting CASH for his equity?

The primary reason a lot of people move on to bigger deals (80 units plus), is that it's possible to own larger properties in markets that make economic sense but may be far from where you live. 80 Units seems to be the target so you can hire your own full-time property manager and maintenance person, versus relying on local property managers to manage smaller multi-family properties on your behalf.

Definitely agree with you equity is the larger part of the gain.  

If the fixes are cosmetic or minor, that’s a big plus, but if there are larger repairs (roof, plumbing, etc.), ensure you budget for those.

There's a lot of opportunity for that in the Highlands area of Denver with some of the older larger homes there and also in Arvada because the hills make it so that some basements are walkout and can easily be divided into an up/down duplex. 

Masyn - I bought a quad this year and although I had to put down a larger down payment the cash flow will be good/above average in the long term - mainly because the existing rents were $300-$400 below market.

The window unit you had when he moved in, should be good enough, unless it does not function as it did.However, there are larger air conditioners and there are fans to help circulation from the other rooms.

., dog walkers for their pets-- plenty of services-- that the property managers can coordinate a full service weekend experience for a wealthy elderly couple from New York.

Shadowbox, dog ear, privacy?  

Part of my reason for getting into REI is so I can live the wanderer lifestyle while I'm still young enough to do it and enjoy the activities that we love; we have a Northern Lite truck camper and while it's a bit too small for my husband and I, our 2 dogs and cat, it's perfect for traveling up to a couple weeks at a time, which is what we both want to do.Thanks again to everyone for the great advice and warm welcome.