Obviously, cash flow would have to be such that you could absorb a salary, but it seems it might be better to have someone trained by the owner who is present for everyone in the building as necessary.Thank you all for your thoughts!

IMO outside of a few small markets in the southeast the midwest is the only region in the U.S right now where you can purchase property with leverage and still expect a reasonable cash flow. 

Is this a cash-flow play or an apprecation play?

The mortgage would stay under the seller's name.The buyer could then rent out the unit, renovate, etc. to increase cash flow or make more money.But aside from a possible "due on clause" being called by the mortgage company, what's the benefit to the seller?

That 36% rent increase while keeping happy tenants shows how smart and intentional you are about building relationships, not just cash flow. 

You’ve already got a head start with hands on experience.. and you’re probably way more prepared than you think.That first property can feel both exhilarating and terrifying, so here’s what I’d focus on:Cash Flow & Analysis..

The only way to make it happen is to sell some property.It will impact my cash flow.

For long-term loans the loan is usually based off your credit score and the property's cash flow for investment properties.

If you want to put down a low down payment, you might not cash flow for a few years.And FHA for 3-4 units is almost impossible.

Airbnb/VRBO and other STR lobbies help, and regulation ebbs and flows.