Regarding multifamily properties, there are larger ones available, but in my market, the ones in better neighborhoods aren’t for sale just yet.

During the renovation phase, adhere strictly to the scope of work and budget, conducting regular walkthroughs to monitor progress and ensure quality.As the project nears completion, prepare for sale by staging the property to highlight its best features and create buyer appeal.

I am new to the real estate game and got my foot in the door by purchasing my first property as a live in renovation.

Here's a quick summary of the Fannie Mae Home Style Renovation Loan:The Fannie Mae Home Style renovation loan program can finance the purchase and renovation of a home in one loan.

The seller was Steve Yoak from Yoak enterprises who bought the house and renovated it. 

Can you afford to sit on three vacancies and the cost of renovation?

@Saul Clavijo make sure you understand you will be getting into Class C properties at those numbers.Food for though below, DM us to chat more about Detroit:--------------------------------------------------------------------------------------------------------Recommend 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 property in Class D area to Class A standards, what quality of tenant will you get?

If you come to me and say you super handy ready to take on a major renovation my answer will be different compared to if you come to me saying you need turnkey and 30 minute commute to NYC.  

@Ahmed MoustafaThe general Fannie Mae guidelines you mentioned are for non-renovation loans. 

Would likely have to have a larger plot to account for growth vice a vertically- scaled arrangement (I'm thinking like condominium-style where the real estate is multi-story).