Hey Jason,I'm a real estate broker specializing in multi family property and also an investor. 

In our world this is referred to as “Family Office Services”.

Investing in AZ, NV, ID, where you have family or friends that is a day away and you can start to build a network and team to help manage a property.  

Or you can sell it, split the equity, and go separate ways.I'm not a fan of borrowing from family/friends unless all parties are honest and everything is documented in a written contract.

It will push out your listing to multiple sites in the apartments.com family, but those leads have always been very low yield for us.

Coming from a family of lawyers the ones in my experience that make less than that are usually just not that motivated or are not that good at what they do.  

If you go with your traditional family insurance premiums will be about twice this, since they don’t specialize in this market.b.

The course is long and test is difficult so make sure you are committed.

Hey Account Closed - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

I have referred a loan out of state based on NOI, cap rate at purchase, room for increase income and purchase price vs market value.Maybe I didn’t articulate the intent of the post as clearly as I hopedFor anyone who has bought multi family out of state, “what are gives you the warm and fuzzies about a deal”:Obviously not cap rate, but maybe vacancy rate,  Cash on Cash ,GRM, IRR, Unlevered free cash flow, Cities over 250k?