Make sure you do your research as well. 

The guy who runs it lays it out like this..1-5 rentals you are still doing okay, have more stuff come up between all rentals the closer you get to 5 or at 5.

Quote from @Yamil Naf: Quote from @Andrew Steffens: Echoing @Jonathan Greene above but if I was interested in doing this project why would I not just do it myself and keep all of the equity and cashflow?

It's also easier to isolate and manage tenants, because they don't have any affect on each other as they do in MFH.

I think our best client in the last 4 years we probably made them $750,000.Then I get the call from the one property owner trying to nickel and dime me that we will charge $190 for his townhome and he can get someone else to do it for $125.

You can protect yourself with a short contract period.

You open yourself to much more risk in not being able to finance out of it and being stuck with hard money and those fees/penalties.

It is my understanding that the new owner will have the house at the cost basis of my purchase price, for calculating capital gains taxes or depreciation.For gift tax purposes for you - FMV.For capital gain tax purposes for the recipient - your original basis/purchase price 

It will depend on where you are doing your deals and what the liability is that follows you after a sale.

But if you know what you're doing in finding the properties and want a fixer upper, it's doable.I will say that the multi-family rental market is pretty saturated here though.