St Cloud MN Duplex, list/purchase price $259,900market rents $1,610 per unit BUT yes, if one really wanted to sec8 income standards are $1,957 per unit so one could go that direction if wanted be.

The investors with the most units and most experience could just as likely be in flip flops and a Jimmy Buffett shirt as jeans and a polo.

Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

Quote from @Kyle Harris: I'm a new investor and looking to learn as much as I can this year and hopefully make a purchase on a multifamily unit by the end of 2025.

I assume there’s additional language in the PPM, or at least I’d hope, but the language can get very confusing by that point and many LPs don’t understand what they’re reading.

It is just laughable when places have regulations like a homeowner can only have a certain number of STR listings by the law but these big name companies suddenly start with 20 units in the first month.

I've settled on wanting to do Commercial Real Estate Multifamily 20+ units, Class B, C in Texas or California. 

Fannie Mae has a requirement that if you want to use the rental income from the non occupied units, that you MUST have a current housing expense which means you cannot live rent free.

There is a flaw in the business model and thier internal processes need a lot of work.First the good,Yes, I got paid every month.Nomad found me good renters.Next the badDue to needing to make the guaranteed rent they rented my unit below market valueIn communicating with Nomad they were disorganized, often sending conflicting messages and not alignedNomad offered to find me a repair company, that compnany charged $400 for a $25 dollar part and I was stuck with Nomad saying "not their problem" and the vendor saying Nomad was the client not me.Nomad was horrible to my renters as their property management term ended.

Our property managers are trying to get us to sign a new clause stating that if we want first right of refusal to do our own maintenance on our properties (and not just have them handle it automatically), that we need to respond to any maintenance request within 24 hours (telling them we want to do it or telling them they can do it), complete the work in 7 days (if we say we want to do it), and do unit turnovers in 2 weeks.