Ask they to talk to their investors about financial advisory, underwriting, exit strategies, etc.

It will be hard to get a loan from and financial institution if you’ve got the IRS breathing down your neck!

That's the easiest, least expensive way to get started and investing in that way in your local market will have a much greater impact on your financial future than buying a cheap house in the midwest- those "cheap" houses tend to be very expensive. 

The little guy with $5k to invest and financially clueless will accept higher risk, lower returns .  

@Lavette Reid Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Prioritize your financial stability.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I want to get into the commercial side but i understand I have to start with residential to work my way upGoing bigger with a 4-plex could be a smart move if you have the financial stability and confidence to handle the extra management responsibilities.

Is he going through a financial difficulty and that is why he is late with the payment?