If you buy used be sure to check the age by model & serial #.

I understand that the 50% is very general and of course it will vary by the submarket and the type of property, condition, age, etc.

First off, I commend you for jumping in at a young age and focusing on multi-family. 

Expenses:  Because of the age of these homes, they sometimes need roofs, kitchen remodels, etc.  

His strong anti-guru message saved thousands of people from getting soaked by guru.

It's totally up to you but I think very few investors would suggest less than 7% on anything with 20 units or less.As for repairs, the 10% you have total is for reserves (I think these are actually pretty good numbers depending on the age of the place).

@Mario Reguera one of the best ways at your age is to find a cosigner.

My goal was simple, increase income to the point where my personal budget was at equilibrium and I did not need to withdraw from retirement savings until age 65.

Good Luck and please let us know how it turns out, I wish I had been as smart as you are at your age Call your parents and thank them!

My goal is to build up enough cash flow with adding additional rentals(15-20 rentals paid off) to one day being able to afford a vacation rental and renting that out until I’m at retirement age.