The FHA self-sustainability rule was only introduced in March of 2023 at the lobbying of a lot of larger landlords and property buyers. 

We have found that capex is much larger than anyone is saying it is especially in second or third tier markets.

I am based in NJ but I feel nothing will cash flow or be too sustainable unless I put in a higher downpayment.I am looking to do only long term rentals and keep it with Multi-family units in the beginning and then advance to appreciation type properties in developing areas.I was thinking if I should save up more money for a larger down payment or possibly look at a different area to invest since I am NJ and the high property taxes make this hard unless more capital is put down.

I stay away from historical buildings in general for all of the above reasons and more, unless it's a larger scale commercial building with concrete floors and great "bones" that can separate the uses/tenants better.

I’m assuming the $6K/month goal is net, not gross, which could be tough to reach in the given timeline, but it's your goal to set, not mine.I’m curious about why you're aiming for multifamily (MF) properties, especially what I assume are larger ones.

In return I can offer access to MLS information(Realtor), Sweat equity(maybe you need help in one of your flips), Bird dogging, or even listing any properties for you in return for your guidance. looking forward to connect with the community.

The homes or apartments units are usually larger.

The biggest thing I’d say is to not let the tax tail wag the dog.

I am currently involved with a simple single-family rehab adjacent to a larger ground up project.

Mary’s Counties.)The market here is often driven by government and military employees due to the proximity of Patuxent River Naval Air Station and government agencies in DC, The Southern is known for larger lot sizes, single-family homes, and a mix of new developments and older properties.