@Eric Smith, It really doesn't matter who you are selling your property to - unrelated or related party. 

@Andreas Mathews admirable, but make sure you do some research so you understand what a PM can make.Starting your own PMC business will require 75-150 doors to make a decent living, depending on gross rents and your fee structre.Working for a SFR PMC as a PM, will require a RE license and you usually get paid a percentage of the gross rents the portfolio of owners/properties you manage generates.

Market timing, properly acquired property, personal capital available How did you find this deal and how did you negotiate it?

Multifamily properties (2-4 units) can be a great way to build your portfolio while minimizing risk—especially with FHA or conventional low-down-payment options.Also, networking is huge.

What other methods should I use to acquire another property? 

I dont see how the risk would be reduced on second mortgage unless you are planning to hold the property in some type of llc.

Quote from @Jason Malabute: Since the rental contract didn’t begin until January 1, 2025, the IRS would generally consider the property a rental property starting in 2025, not 2024.

I am more strongly in favor of investing in the larger facilities, because high quality property management is already in place.  

Or maybe certain markets or property types you’re curious about?

Hello everyone,I’m an experienced real estate developer and builder with over 35 years in high-end construction and property development across Canada and Mexico.