I have ample funds for down payment and could probably purchase the property with cash, but I'd rather hold on to my cash to use on further deals. 

This allowed me to get into this property for very little money out of pocket so that I had ample funds for renovations.

BRRRR may still be attainable with a FHA 203k loan in which you borrow both the purchase price and the rehab money as part of your loan.  

Here are some of the numbers and my two general plans.Under contract for $412k20yr commercial loan @ 3.25% (need to put 25% down, $309k borrowed)Property Tax @ $7850Total Home Insurance @ $180/monthRent roll totals $3775/month (estimating that we could increase to $4400/month with minor upgrades)Strategy 1 (Do nothing)My math shows cash on cash at about 10% (with property mgmt and no upgrades) and with the increases we can get up to 15% (assuming little to no upgrades).Strategy 2 (Sell off one of the SFH)We think we can sell one of the SFH's off and attain ~$170k after the sale (this one rents for $1200/month now). 

Using an fha loan to attain it.

If you can get a 6-8 unit depending on the area then getting close to that monthly number could be more attainable.

I feel 6 is a good medium between a duplex and a full blown apt complex, seems more attainable to begin with for me but I suppose that will very much so depend on the area I am looking and what is actually available.

Make sure there is ample parking.

@Jason MaI always rely very heavily on the property manager that I’m going to use to tell me if certain rents are attainable.

I want to start investing in real estate within rental properties.One of the properties I’m interested is as follows:- The property is located close to an elementary, a Walmart and a university- The property current asking price is $340,000- The property is 4,778 square feet • 1,194 per apartment built in 2006- Currently the property is currently leased for 750$ each and is generating $3,000 per month - The property has a potential to have the rents increased to $850 meaning $3400 in total based on the surrounding rents being charged around in the market- Estimated monthly cost$2,227- Principal & interest$1,508/mo included with no down payment - Mortgage insuranceNot included since not required by VA loan-Property taxes$550/mo-Home insurance$119/mo-HOA fees$100/moGarbage lawn care and other services-UtilitiesTenants pay for utility bills- $2,250 a month in total on average I plan on living in one since VA loan required me to vacate one apartment...depending on the rate of the income and the amount being generated and with the steady flow of tenants I can continue to get another apartment in the near future- At the moment it is generating $3,000- Since I’m living in one, the amount generated will be, $2,2503000-750= 2,250- Enough to pay off the property expenses and live for free - if I increase the rents based on the location to $850 I will be generating $3400 but again since I’ll be living one I will be making $2550- so 2,550-2,250= 300- $300/mo will be generated in cashflow every month CAP rate of 6.7%- When I’m able to rent the 4 plex fully the total cash flow would be $1,150/mo with a total CAP rate of 9.6%After a year or two of seeing steady tenants and rent increase I will do the same process but this time I will not be living in one generating the full amount having more cap rate within my second property and have my money generated within my job to be able to back up the payments in case of vacancy and repairs- GoalInvest in real estate and have my money generates throughout my income to maintain a propertyOwn 5 properties within 5 yearsBuy 4 plex’s 20 rental apartments in total in 5 yearsIs this too much or should I look for something smaller to start off with, and does this seem like an attainable and realistic goal according to my calculations.