Also, if you have a more modern unit, they have some pretty trendy patterns available, just FYI, and your higher-end tenants might appreciate it. 

If looking purely for investment purposes townhomes and single family homes zoned for short term rental are an option and may provide a more predictable occupancy profile provided it is properly managed. 

Going in together also extends our budget into a range where we can find a more solid place without some of the concerns I was seeing when I was looking solo.I was wondering if anybody has experience going in on a place with a family member, and if you can offer us any tips and tricks on splitting a property 50/50.Thanks in advance for your help!

I will be sure to do a more thorough look next time before bringing it to others on BP.

I prefer a more aggressive approach [I went from 0 to 20 rentals in 18 months].I prefer the small local/State banks to partner with.  

My friend would pay market rent so I should subtract about $700 or so from my numbers to get a more accurate idea of the cash flow. 

That can work.I'm wondering if you can somehow creatively do this deal where you pay an extra $5000 for this new condo, but have $5000 held back by the seller for you to do some kind of upgrades, but then just use the $5000 to pay down your original condo so you can get to 80% LTV in order to drop the PMI insurance and refinance at a more realistic rate.Is that HOA monthly? 

This may put you in a more competitive position at the offer table.

I am 100% sure that I want my first purchase to be a multifamily home in the Bluegrass area.Also I've heard that ZIllow and other housing sites do not contain all property for sale and that I would need to contact a Real Estate Agent for a more thorogh list of my target area's property.

My father owns a construction company in my hometown, so I have spent my fair share of summers swinging hammers and digging holes.I am employed as a full time engineer and I am looking towards real estate to supplement my income and build a more stable future for my fiancé and myself in this exciting stages of our lives.