If you are looking at 4plex you can enter that project with as little as 5% down if you buy it as a primary meaning you will live in one of the units.

When my tenants sign a lease, 99% of the time they have not only seem pics but been through the unit (usually twice).

Identify your buy box (how many units, purchase price, etc.)3.

It is always better to start with a multi-unit 2+ so that if something goes wrong, you still have one tenant to cover necessary expenses (mort, taxes, insur, etc).Also, major renovations are not a great idea for starting out as others said, especially out of state.

It seems like it basically up to you to do the math on how much more you will potentially make selling each unit individually and then deciding if that extra $$$ is worth the number of extra hours you will spend.

I am making an offer soon that I hope is similar (near retail at slight discount rate) that is class A unit in a vacation market.  

Grab a 3 or 4 unit multi.

If the residence is inside a gated subdivision or a controlled-access buildingthat is governed by an owner’s association, a letter from the association acknowledging the use and grantingaccess to occupants of the rental unit will be required as part of the application.A short-term residential rental requires a Conditional Use Verification (CUV).A short-term rental use is unavailable and prohibited within a residential unit or a room within a residentialunit that is located in an apartment building.

We currently own a home and am looking for a small multifamily property in Grand Rapids to start out with our 18 yr old daughter who wants to live in one of the units.

Although what if you will add ADUs/Units to the property?