So there payments are $200 - $400 dollars under market.

For example, you might choose to take a blanket mortgage covering all properties, BUT perhaps the market softens and later you wish to sell a property.

We did this because initially we were just going to build/sell, but I would rather hold on to it.

The best way to learn the multifamily market is to purchase a multifamily property.

congrats on the Naca program I have sold a  handful of my OREO to Naca buyers.. its a great program takes some resolve to go through their initiation process. 

I live in a very expensive market (Seattle, WA) and I am looking to invest out of State.

If the only MFH options you're finding are in areas you're not comfortable with, it might be worth focusing on a duplex in a better neighborhood.Saving up for a larger property later is a valid approach too, but keep in mind that real estate tends to appreciate over time, and waiting might make it harder to enter the market later.

Since then, we've analyzed at least 75 deals across multiple markets, developed our buy box, and choose a strategy that aligns with our goals.

A property is available off market that seems to be a great deal.

But it does give an easy way out for busy out of state heirs who don't want to deal with organizing with other heirs to redeem the property, put it on the market and split the proceeds.