Quote from @Srikanth Kumar: Hi Everyone,I’m relatively new to long-distance investing and am exploring the purchase of multifamily properties in Cleveland.

Typically starting with a smaller rehab budget of $50K or less (maybe a max of $75K) and avoiding a 1 to 1(or higher) ratio of purchase to rehab costs is recommend when you are first starting out. 

I am learning a lot about real estate and want to purchase a rental property in my area.

Deal 2: Duplex (older home that needs TLC in good location)Purchase price: 120k, Rehab 40k, Total all in: 180kExpected Rent: $2,400/month to $2,700/monthDeal 3: 5 Plex (is that even a word?

I also purchased these while residing in CA!

Purchase price: $90,000 Cash invested: $60,000 Buy and hold that I still have to this date.

I am considering purchasing in Lower Dimond and any of the directly adjacent neighborhoods.

I have programs that require only 10% down for the purchase, and will finance 100% of the rehab.

This would allow you to indefinitely defer all of the tax if you sold, and use the tax you would have had to pay, to purchase something nicer in an area with a greater growth potential.   

Yes quite a few of our 5,000 options have rate and term or purchase!