It's all great advice above, but I wanted to add a recommendation that I don't see as often: don't go cheap on your washer and dryer.Nobody wants to work 12+ hours and then go home and fight a tiny washer and a slow dryer.

I work with Mike Bell at Southpoint Risk -offices with Stan.

I'm going to assume these pre-foreclosure listings you're seeing on the MLS are properties that sellers chose to list for sale there (and that your MLS does not contain the full list of them in your county).The best source for finding foreclosures is going directly to your county court (either their website or their office).

Mine are small commercial offices and Zillow didn't fit for my uses.

You also have to consider loan amounts typically need to be above $250K will carry a 3-5 year prepayment penalty.The biggest thing I see is loan officer are quick to offer a pre-approval for you but the fail to run the DSCR/Rents ratios up front.

And manager/wash/dry/fold office not used.

The job market is growing in medical, tech, and with state workers going back to the office since covid we're seeing businesses doing better.

I am currently a full time Police Officer and will be eligible for retirement in four years.

Adjust for any old/new contracts you're removing or addingG&A (Advertising, Office, Software, Etc: T12 adjusted for any old/new contracts you're removing or addingReserves: $250-$350/unit multifamily; $0.15/sqft commercial; $1.00/sqft commerical TI'sTotal Expenses: Sum of all above expensesNET OPERATING INCOME = Project EGI - Total ExpensesProceed to look at multifamily / mixed use sale comps and make judgement call based on (i) going in / exit cap rate assumptions, (ii) $/unit, (iii) $/sqft, (iv) etc.

If you don't know how to research, try locating a HUD office to see if they can help.I send it via email because I like to include move-out instructions.