Before listing it, I had lots of expenses, including painting, floor refinishing, plumbing repairs, staging, cleaning, etc.In a 1031 exchange, I purchased two small multifamily homes which also have some roof work, painting, plumbing, etc. 

. - The FHA 203(k) loan is a great way to buy a MFR as it allows repairs to be included in the purchase mortgage.

On paper sit down with a realtor and an REI investor and build a scaling template so you can see the path ahead.  

If you think ahead, you can minimize recapture with the right tax planning.So...

Right now, if it's just for income, you need to dig deeper and understand what you are getting yourself into for that income in terms of being a landlord and repairs.

Then after they take their fees, and any repair costs for the month, I get direct deposits to my account of the remaining balance.

Make sure both properties have all the repairs and maintenance needed and no major cap ex is needed before you try to add one on double leverage.

If you just called someone up and asked how you could help them, you would be ten steps ahead of Bobby, who is stammering through the first line of a script from 1974 about a cash offer when the homeowner bought the house for 51k in 1978 and it's worth 804k (aka does not need cash, he needs a place to go).Agree 💯!

Right now we only list on Furnished Finder, Airbnb, and VRBO and our 3 bedrooms are usually booked by local families doing renovations or repairs on their home and groups traveling together for work projects.

I'd plan to save any profits each month for future CapEx, repairs, vacancy until we had ~20K for this house set aside.