@Lavette Reid Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Most retired couple, should be able to  “get by” with 5, especially if they have any other investment< social security or a pension. 

To supplement my down payment, I have secured $50k via gift and inheritance.

Initially, my goal was to secure a multifamily property using my VA loan for leverage, focusing on long-term rentals.

The capital called equity, or common equity, is the cushion that makes preferred equity more secure so that if values decline further, they can still recoup their investment.

It's also wise to check references from previous landlords to understand their payment history and behavior as a tenant.Once all the information checks out, you can proceed to signing the lease and collecting the security deposit and first month’s rent.Good Luck!

So, you should be looking to understand the labor and material costs.Material is usually easier:Anyone you hire will need: drywall patching materials, sanding blocks & paper, primer, paint and the corresponding paint rollers and brushes.Labor may depend on level of skill:How long will it take to prep, patch, sand, prime and paint?

Quote from @Muhamadou Kaba: Quote from @Jay Hurst: Quote from @Muhamadou Kaba: I have a duplex in northern Detroit, Michigan (near Wayne State) that was ...Hey man, I'm curious if we can secure you an 85% rate/term refinance.

Ceiling fans need to be secured differently than a basic ceiling to be stable and this is of course electrical work so allowing a tenant to potentially do it is a liability issue if they got injured. 2.

What kind of terms have you been able to secure?