Find a mentor that can help you through the purchase of your first house hack, and get something you can fix up off market directly from the owner.Use the help of the mentor to find out if it's a good deal and to help you understand if it could work.  

It’s better to have less rooms and to have them large enough to comfortably fit a queen bed.

Purchase price: $490,000 This is a unique opportunity to participate as a investor in a single family residence valued at $3M and higher.

The LP got it from a friend who is in some kind of real estate mentoring program.

They develop, they build, they finance, they property manage, they will have HAO, cleaning crew etc. etc. etc. so the subsidiary companies make money every step of the way.From investor perspective: The investor pay $15 K to reserve the right to purchase 25 multiplex over the year of next 5 years. 5 each year.

Purchase price: $645,000 Cash invested: $516,000 80% cash purchase.2,437 sq ft Duplex, with 3b 2b for the front unit (1331), 4b 2b for the back unit (1333).   

Quote from @Srikanth Kumar: Hi Everyone,I’m relatively new to long-distance investing and am exploring the purchase of multifamily properties in Cleveland.

Without going into too much detail, my current situation stems from selling a previous company via partial owner financing, only for the new owner to default on the purchase, leaving me in this position.For traditional financing, I understand I’ll need at least one, if not two, years of solid credit history, tax filings, and other financial documentation.

This growth typically drives significant appreciation, which is the key to making this strategy work.For example:Let’s say you purchase a property for $300,000 with 25% down in a market with an 8% annual appreciation rate.

I am under contract to purchase a Quadplex.