Purchase price: $5,000,000 Cash invested: $1,450,000 Complete combination and gut of two lofts side by side resulting in a 4,000 square foot home.

We are currently living just south of Boston and are looking to purchase a 2-4 unit property in which we would live in one of the units.

But with that purchase, I bought it with $50k equity in the deal.

Mortgage lenders will qualify you for a higher purchase amount for multis than they would on a single, because they will count the rent you will be making on the other units as additional qualifying income for your loan application.

However, a multifamily purchase could work quite nicely. 

We were in a financial position where we could keep our existing home, upgrade, and purchase another home.

I only purchase direct from owner and no assignments.

You may also want to consider purchasing multi-unit properties and live in one of the units.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

Encore, you would need a membership, if you purchase in the new phase (Spectrum ) they automatically come with the amenities (membership) included to your guests, but the HOA and management have other restrictions and all units come furnished with the same packages, so you can't make changes to have it stand out, which is what is really needed hear in Orlando since there is so much competition.