I have about $300 on my credit cards (just finally paid them off for the most part, and have about $20,000 limit).My cash on hand is relatively light, but what my plan was was to find some single family homes in the north Detroit area (currently anywhere from $40-$60k and put about $15-20k tops into any repairs or fixes (not looking for total rehabs, mostly something I can do some small repairs here and there and paint, personally I am knowledgeable about renovating up until complex electric and plumbing).

I am targeting a 10+ unit complex in slightly north Omaha, Cummings street area.

Everything costs more than you think it will, takes longer than you think it will, and exit strategies of selling or refinancing are a bit more complex and difficult than strangers on the internet make it seem.

You might have cash flow down, but what about the other more complex metrics?

Also, my first house hack was a bad buy imo, but now with both units rented - my cash flow is 400 bucks per door, which is sweet. 

The first big check box is finding that property sweet spot.

Hi Stacy,I understand your concerns about the complexities of splitting rental income and expenses.

- personally at SMARTLAND as experienced heavy lift multifamily operators - it is a complex process and requires a team, time and skill - Yes, you can lift a property and value moderlty quickly if you have the right tools and process in place, no doubt, but you have to also have the correct financing tools in place and appropriate cost-basis to withstand turbulence along the way - (no straight path) - the short term mezz loans into this constricted/constrained lending environment is tough, even more tough with raising cap rates, market repricing = requires more time to season and continue to hold, unfortunatley as we have discuss to the max on this forum time was not on this operators side with the short term adjustable mezz loan -**Pref Equity has entered many deals in the past 18 months advance of LP positions, also took a GP slice along the way  ---- 

An apartment complex or even a small multifamily where 90% of the residents are paying market rent and 10% is legally set aside below market.

The STR arena is highly complex and  significantly down in multitudes of markets across the nation.