While the townhome is in good shape overall, it does need some mild cosmetic updates to bring it up to rental standards.My goal is to leverage this property to start building a real estate portfolio, but I’m not sure what the best first step is.

But I purchased land in cash and leveraged it to build a new construction stick built home.

Lastly, always keep your job and build your employment foundation because that keeps you income relevant and lendable.Hey thanks for your reply!

I got my first FHA  3.5% down  4-unit building in Tilton, NH (An hour and a half north of Boston).

I definitely plan on building a team in the market we select. 

But be mindful of the debt service requirements and ensure your rental income is sufficient to cover the loan payments.It’s definitely possible to scale up with DSCR loans—many investors use them to build large rental portfolios.

In this option your agent would either get paid from you directly in your closing costs OR from the seller via seller concessions.like Russell said, if you are comfortable with the transaction and understand what you are signing and you don't need things explained and you have connections with inspections and title companies then go for it.

A little about me: i’m new to the real estate world and eager to learn everything I can to build a successful investing journey.

Building strong relationships with lenders is critical and the easiest way to do that is to be easy to work with. 

The other half is a mix of spec and owners buying lots to custom-build for themselves (more of the latter than the former).