Given you and your investor both have experience in different areas, I’d say keep a flexible approach and compare city requirements before putting too much money down.

Focusing on smaller multifamily properties needing light rehab is a smart approach for learning the ropes.

A balanced approach often works best—consider splitting your cash flow between paying down the mortgage and investing in diversified assets.

I’m looking to access some of the equity in the home to buy out my ex-partner, and my goal is to either convert the house into a multifamily property or add a dwelling unit (ADU).I’d love to hear any advice from the community on the best way to approach this, particularly in terms of financing options, legal considerations, or any similar projects you've completed.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

By facilitating the closing process and leveraging a strategic marketing approach, we increased the property’s visibility and quickly found a buyer.

Start by joining local real estate groups, narrowing your approach to strategies like house hacking or multi-family investing, and building a team of professionals like agents and lenders.

As a result, this isn’t the kind of market that attracts top-tier PM talent.Your best solution might be to either:1.Take on self-management if possible (and if you’re willing to put in the time/effort).2.Find an individual you can trust to handle these properties, set up very specific instructions and processes, micro-manage them initially to ensure standards are met, and compensate them well to make it worth their while.This approach requires more oversight on your part but can yield better results in markets like this.

Have you approached the current owner of the car washes to see how much they want in a sale?

Are there specific tools, presentations, or approaches that help them feel more confident in taking that first step?