But there are also places that might only need a bit of cosmetic work that the numbers will still work out if you want to take a slightly slower and simpler approach.Good luck out there, it's a crazy market to make your debut in.

Both are rented with decent, but not stellar, cashflow.

There’s always seasonality and you’ll have stellar months in the summer and winter, with ‘mud season’ around May and October.

This is a business that attracts a lot of sharing and good folks, but also a few less than stellar people. 

Stellar, @Jacob VosWinkel!

Live in one unit and rent the other out. 2) You could do a cash out refi on SFH to use $$ towards new multi family purchase. 3) Find a stellar deal and bring in a partner to fund4)there is hard money but that isn’t something I would recommend unless you are able to pay it back quickly I’m sure there are a few other options but these are top of mind for me

They have subsequently turned out to be less than stellar tenants and I look at this cashier's check/money order as a last line of defense now and will not budge on it. 

And there would be pressure for me to recycle that money fast because that's just how my brain works and that could lead me to investing in something less than stellar. 

Foundation issues can truly by the F word in a sale, or they can be a stellar opportunity and it really all depends on how big of a grizzly you're looking at.

Typically buyers will purchase a home that is more suitable to their lifestyle and less stellar as a rental, which is fine.Another factor to consider in this model is renovations.