I buy and hold and do short term rentals and mid term rentals.Located in Racine Wisconsin  Hello Gabriel: I also live in Racine County there are some great deals our way and including southern milwaukee county too!   

Which area did you buy your first property in? 

So did you buy the $15,000 course? 

Multifamily is incredibly complex and if you don't understand the metrics or calculations behind it, you're going to get burned. if you're just plugging numbers in until it "goes green", you are either going to miss out on deals or buy something you shouldn't. 

So even if you had a buy out agreement negotiated up front and execute that buy out agreement, the bank would still require him to be guarantor unless something drastic changed on your side financially.The best scenario here would be to purchase and rehab the property using a hard money lender or bridge lender.  

Quote from @Brandon Vukelich:If you buy a vacation rental in Hawaii, then you're tied to that location.

So, if you buy an older home it's typically much cheaper, since you're not paying much for the structure. 

2) You have one rental now, what's your goal of buying more?

Check fees are $10**** When buying physical real estate, you must have a 10% cushion of the purchase price**We waive the first 6 transaction review fees for the life of the account.*** The first 12 incoming checks are free each year.

But buying without any inspection is rare.