I blindly invested in an overpriced 3BD SFH in Cahokia Heights, IL April 2024 and have been carrying costs since then!

for infill I concentrated on Charleston Sc and built about 35 homes in that market. uber competitive for dirt though they are running out of it and the city wont let you tear down homes in many cases because of historic considerations.

Hi Folks,I would like to know your opinion, is it good idea to buy $1M multifamily (two family) house for investment purpose in jersey city area (jersey city heights).

I bought a 3 Bedroom SFH in Cahokia Heights, IL on April 2024 and it is STILL NOT RENTED TODAY.I bought for $79k convinced by the Section 8 mentor Tom Cruz to buy from his team and to focus on cashflow vs. appreciationI went through 3 contractors that all did a subpar job and just barely got it all togetherI haven't been able to find an appropriate Property Management team to help on this side of ILI have it listed for rent (Zillow, Turbotenant, Fb, Craigslist) for about 3-4 weeks now since repairs were done.If anyone has any suggestions to get this rented ASAP I would greatly appreciate it and any Property Management connections that can help would be amazing as well.Thank you all for your time and Happy Holidays & Happy New Year Ouch. 

Thank you so much for this information that I will be taking into consideration!

However, with the rates and conditions of any triplexes and fourplexes we could find (we did find one, but it's in the Pendleton Heights suburb of KCMO, so we were worried about it being too dangerous of an area), we were wondering if it's worth it to buy a duplex and rent out the other half to help pay the mortgage, or if it's more worthwhile to rent an apartment and try to save up to buy a residential or commercial MFH later?

I have done extensive research in the risks, how to structure such deals to mitigate those risks as effectively as possible, and legal considerations of each strategy. 

Another consideration which applies only to electric is access to the load center.

But basically with a construction loan you will need to have considerable cash involved - most costs need to be paid for and then the bank will reimburse at certain checkpoints.You may want to start with some smaller value adds inside the existing house to maximize rent from the house hack. 

It was tricky because the basement ceiling height is not quite 7'.From what I have read online, Fairfax limits STRs to 120 days per year, so it would not be feasible.