And if one year you unexpectedly need to replace a roof and a furnace, that place needs cash instead of generating it.So I'd be curious about how much you have to invest and how much you need to gain in monthly cash flow. 

I'll have about 20% of the purchase price in the bank but I will not be putting 20% down, this is saved for minor updates and to cover for unexpected vacancy expenses, I'll be going for an FHA. 

What are the key components to keep an eye on? 

The ideal property would have a value add component (big surprise I’m sure!).

Even multi family is considered commercial, with any commercial component, I’m surprised to hear that a residential lender would lend, though, again, not sure what you are referring to when you classify the loan as “residential”?

Thanks I’ve got a comp on the property through an agent and ran my numbers with repairs and I will be selling the house myself.

There are many components to successful acquisitions, similarity, composition, how to value, value-add and other. 

Inspection concessions cover unexpected or non-disclosed problems.

Finding the right cocktail of these components, not sacrificing on jobs is key.

Probably a broker, but I don't think that's a critical component.